Apple stock is currently rising at a remarkable pace, having eclipsed the $500 mark just weeks ago and now soaring past $540 per share. With a market capitalization of over $500 billion, Apple is easily the world’s most valuable company. And according to Apple co-founder Steve Wozniak, Apple stock could still be on the rise — almost doubling its current value — and reach the $1000 plateau in the foreseeable future.
Wozniak believes this is because Apple is merely a conglomerate, or umbrella company, with several successful companies or brands underneath it such as the iPod, iPhone, iPad, and Mac. Speaking with CNBC correspondent Brian Sullivan, “Woz” touched upon the four-digit stock figure…
“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.
Although it has been suggested that Apple might begin to feel the effects of the law of large numbers, Wozniak believes that Apple still has potential for growth:
“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 explained. “It’s not like a side project ‘we’re going to start a TV company’. No, we’re going to start TV within the whole Apple world. Assuming that we are going to, I don’t know.”
At this point, Apple reaching this stock figure still seems unrealistic. But, at the remarkable pace that the iPhone maker is currently on, anything is possible.
[CNBC via Cult of Mac]