Apple's stock price may end up reaching new highs this summer. Analyst at BMO Capital Keith Bachman has just released a note to clients raising his predicted Apple stock price target from $250 to $265. Bachman has also increased his estimate of 2011 iPad sales by 30.09%.
Previously, he had given an estimate of 2.5 million sales for fiscal 2010, and another 5.5 million in fiscal 2011, more or less in line with every other analyst out there. Now Bachman believes his estimate was too low. Now he estimates that 7.2 million will sell in fiscal 2011. Also predicted was the iPad's conquest of 11% of the netbook market.
Analyst predictions are nothing more than educated guesses, but that doesn't mean they aren't worthy of consideration. Bachman's sales targets seem fairly reasonable, based on pre-order estimates and Apple's standing in the industry.