Sunday, March 4, 2012

Apple co-founder Steve Wozniak Believes Apple Shares Will Hit $1000

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Apple Inc. co-founder Steve Wozniak, also known as the Woz, thinks the company's stock price could hit $1,000 per share, according to an exclusive interview with CNBC on Thursday.

The Cupertino-based company's stock topped $500 per share Wednesday and was trading for around $545.04 per share on Friday afternoon.

The engineer said in the interview that he doesn't really follow stock markets, but as shareholder has been pleased with Apple's success.

"Apple has that much growth left because we're talking (about) something like Apple TV that works with all these other great, great companies and products all in the same sphere," Wozniak said in the interview.

The interview came after Apple's market value reached $500 million, a level previously reached by only five companies, including Microsoft Corp.


"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.

He said that Apple's [AAPL] retail store, iTunes, iPhone, iPad and computer making divisions were "a lot of companies into one," adding that "every one [company] is so excellent."

Some analysts have said that, with Apple joining the select club of companies whose market value exceeded $500 billion, the only way is down as there is no more room for it to grow.
But Apple's business has a lot of upside potential, according to Wozniak.

"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.

"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," he added, Business Insider reported.

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