Apple stock (Nasdaq: AAPL) is on a tear. Up more than 35% in the last six months, AAPL is trading at roughly $103 a share. And it's not stopping there...
Earlier this week, the tech giant crushed its fourth-quarter earnings. Revenue came in at $42.1 billion - a 12% increase over last year's revenue of $37.5 billion. Driving sales were 39.3 million iPhones hawked in the quarter. That's a 16% increase of the year-ago quarter. Moreover, the company notched the best sales increase in the personal computer (PC) industry with Mac sales rising 21% year over year.
At this clip, AAPL stock could be headed to $142 a share - the equivalent to $1,000 a share before the company's 7-for-1 stock split on June 9. The split brought Apple stock down from around $645 a share to $94.
Money Morning Defense & Tech Specialist Michael A. Robinson appeared on FOX Business' "Varney & Co." program Tuesday afternoon to tell investors exactly how high he sees Apple stock going (and why):
Here at Money Morning, we believe tech investments are an essential step in wealth building. The sector creates some of the richest investors - and continues to get more lucrative. It's no surprise that companies working on Ebola treatments are the hot topic in tech right now. A number of companies are racing to find a treatment, and investors are piling in. But here's what you need to know about these "Ebola stocks"...