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When the Apple stock price broke past $120.28 earlier this month, it gave the tech giant a valuation of more than $700 billion.
That promptly set off speculation of if or when Apple Inc. (Nasdaq: AAPL) could reach a market cap of $1 trillion, which would require an AAPL stock price of a little over $170 a share. (With the current number of shares, the exact Apple stock price would be $171.82. Future share buybacks will push the target price higher)
Money Morning Defense & Tech Strategist Michael Robinson believes Apple stock will hit that target – and should.
"You know, there's a lot of stocks out there without the same value proposition, the same global tech ecosystem, companies that don't have nearly [Apple's] margins that are selling at substantially higher than $170 a share. I think it's justified, yes," Robinson said in a Tuesday appearance on the FOX Business program "Varney & Co."
Robinson also discussed his predictions for the Apple Watch, which is expected to launch in April. For more of Robinson's views on Apple, watch the video below.
An Apple Stock Price of $170 Is a Fair Value: Video
More Stock Picks for 2015: Apple isn't the only tech stock Robinson likes in 2015. He recently looked at several tech stocks that had gains of 50% or more in 2014 but are posed to move even higher this year. These companies are winners because they all meet one of Robinson's key rules for success: "Ride the unstoppable trends."