Market pro Jason Raznick said Apple “continues to hit on all cylinders,” after Brian White, senior analyst at Topeka Capital Markets, gave his bullish take on the launch of Apple’s new iPad mini on CNBC’s “ Fast Money .”
White first announced that a new mini device was in the works back in October 2011 and new reports now suggest that Apple is moving closer to launching its smaller, cheaper tablet. He expects the iPad mini to launch sometime in September and that the company will bundle that announcement along with the release of its much-anticipated iPhone 5.
The senior analyst also sees plenty of upside for Apple and holds his year-end price target steady at $1,001 — roughly 18 times earnings. In other words, he says the good news hasn’t been priced into the stock yet. And with a slew of other new products in the pipeline — including the iPhone 5, a potential Apple TV and the iPhone coming to China Mobile — he thinks fall could see the “biggest consumer electronics launch in history.”
White added that the cheaper 7.5-in tablet will allow Apple to really expand their market share and target developing markets with a lower and more attractive price point. The stock currently trades at 9 times earnings and has grown 86 percent year-over-year for the past seven years.Page 1 of 3 | Next Page