Apple recently blew past Microsoft, Cisco, and other companies to become the most valuable tech company in the world.
But that's just the beginning, says investor James Altucher of Formula Capital.
Altucher thinks Apple will eventually be worth more than $1 trillion, maybe even $2-$3 trillion. Apple is currently worth about $320 billion, so $1 trillion would be a price of about $1,000 per share.
Why does Altucher think Apple's stock will go to the moon?
Because Apple's growth rate is astounding for a company its size, and the company's global market share in its key markets--smart-phones, tablets, and Macs--is still very low. Also, factoring out Apple's massive $65 billion pile of cash, the stock is trading at a low price-earnings multiple.
And what about the biggest concern most people have about Apple, the heath of its founder and visionary, Steve Jobs?
Steve Jobs is indeed an amazing leader, Altucher says. But Apple is now large and diversified enough that, if Jobs can never return full-time, the company will be okay without him.
This post originally appeared at The Daily Ticker.
Read more: http://www.businessinsider.com/altucher-apple-will-be-a-1-trillion-company-2011-5#ixzz1LJ5BNl8Q
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