Charlie Wolf of Needham & Co. believes that Apple (AAPL) will be pushed to a trading range of around $235.
Charlie Wolf from Needham & Co. wrote in a note to investors that he believes AAPL will trade at $235 in the next 12 Months, and will be forced to that price based on the strength of the iPhone. He believes that the “explosive growth” of the App Store will lead to higher iPhone adoption.
Wolf believes that the iPhone will play an even more significant role for Apple. Wolf’s previous prediction of a $200 stock price was called out when he viewed the iPhone consisting of only $70.18 of the total price. He now sees the iphone as making up $134.07 of the total stock price. This and the fact that the iPhone only controls 12.5% of the smartphone market can only mean huge potential growth.
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