Forbes: China growth will propel AAPL shares to $547 in the next nine months
Eric Jackson at Forbes has written a piece with some astounding numbers about Apple's business in China. Most impressively, Jackson thinks that because of Apple's China business, Apple shares will hit $547 per share by January 2012, which is only nine months away. That's an impressive upswing from AAPL's closing price of $348.51 yesterday.
Jackson opines that Apple's four current Chinese Apple stores bring in US$1.3 billion per year, per store. With Apple set to open as many as 25 retail stores in China, and the Chinese "gaga for Apple," that means Apple's Chinese retail stores alone could draw in another US$32bn a year for the company. That's not counting iPhone sales through carrier stores, Apple's online China store or Cybermart, Apple's largest third-party retailer (owned by Foxconn). Cybermart has only 34 retail outlets today, but it's planning on building up to 500 locations in the future, each with its own special Apple Shop within the store (much like Best Buy's Apple Shop store-within-a-stores).
With the second largest economy on the planet, it's no wonder that Jackson sees China as key to Apple's future growth. And it's likely that China will propel Apple to its first $100bn+ net revenue fiscal year ever when Apple's fiscal year ends in September.
Disclaimer: The author holds a position in AAPL. TUAW does not provide investment advice; consult an expert before buying or selling equities.
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