Apple analyst Brian White of Topeka Capital Markets made headlines last year when he jacked his price target for the stock up to $1,111.
That target was the highest on Wall Street. And its numerical symmetry gave it a "cartoon" quality that had people chattering about it. The target also highlighted the general arbitrariness of price targets in general, which are highly subjected.
Like a lot of other Apple bulls, White has had to temper his optimism this year in the face of Apple's new reality--the stock is doing nearly 40% from the September peak and now trades below $450. But White is still fantastically bullish on Apple. He cut his price target from $1,111 to the equally memorable $888, which would represent a double from today's price.
So, why does White think Apple's stock is going to double in the next 12 months?
And what has to happen for that to happen?
First, White thinks Apple will decide to give more of its massive $135 billion cash pile back to shareholders, in the form ofRead More »from Apple Analyst Thinks The Stock Is A Steal At This Price