Apple may have recently become the more valuable tech company in the world, but one analyst believes that’s not enough for the corporate giant. James Altucher, investor with Formula Capital, is forecasting that Apple will grow from its current value of around $320 billion to somewhere in the region of $1-3 trillion.
What makes Altucher so convinced that Apple has that kind of headroom? In part, it’s history: he believes that Apple’s growth rate hasn’t slowed yet, and that the company’s global share in key markets is still low enough to allow for rapid growth. Altucher also doesn’t believe founder Steve Jobs’s health problems are an issue, saying that Apple is now “large and diversified enough” that, even if Jobs were to leave the company for some reason, it wouldn’t affect the bottom line.
Even if Altucher’s predictions sound optimistic – and envisioning a company valued at $3 trillion seems extremely optimistic – I think there’s one key takeaway: it’s may be time to buy some Apple stock.
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