Apple Co-Founder Says Stock Could Hit $1,000 (Update 2)
In an interview with CNBC, the legendary tech guru and co-founder of Apple thinks the stock could hit $1,000, as demand for its products has never been higher and because its products work so well together.
"You know, people talk about $1,000 stock price ... you know, at first you want to doubt it but I actually believe that and I don't really follow stock markets," Wozniak said during the interview.
Apple shares have risen sharply in 2012, gaining 34.9% year to date, and are up 56.4% over the past year.
$1,000 per share would assume no stock-split done by Apple, something the company has done prior. Apple split its stock 2-1 on May 19, 2000, and 2-1 again on Feb. 11, 2005.
CEO Tim Cook has recently talked about a stock-split, and seemed to signal that it was not in the best interest of shareholders to do so. "We talk about everything we think is in the shareholders' best interest. A stock split isn't so clear," Cook said at the recent Apple shareholder meeting.
Apple products are some of the most desired in the world, as evidenced by the company's most recent quarterly results . Apple generated $46.33 billion in revenue, selling 37.04 million iPhones, 15.43 million iPads, 5.2 million Macs and 15.4 iPods during the company's fiscal first quarter.
Shares have been on a tear, as the company has surpassed $400 billion in market cap, a a $500 share price , and most recently $500 billion in market cap since the start of the year. Wozniak attributed this to the fact that Apple's retail business, iTunes, iPhone, iPad and computer divisions are all separate companies, and every company is excellent.
"Apple is on such a winning course because it's encapsulated all of its different big products that I mentioned, they all work together so well that you are in a course that if you buy a product from another company it doesn't really do as much as one from Apple does. So Apple has a large room for growth," he said.
Wozniak, better known these days for his appearance on "Dancing With the Stars" and "Big Bang Theory" , talked about the potential for Apple TV, the oft-rumored television set Apple is reportedly working on.
"Apple has that much growth left because we're talking something like Apple TV that works with all these other great, great companies and products all in the same sphere," Wozniak went on to say. He did not say whether Apple would make a TV set, just that it has been rumored.