Analyst: Apple top stock pick of 2013 despite setbacks

Topeka Capital Markets financial analyst Brian White has weighed in on Apple's 2013 outlook and sees a bright future for the tech giant despite a slight stumble as 2012 entered the record books. According to Apple Insider, White named Apple his firm's top stock pick for the coming year, predicting that its share price will recover from the hit it took in late 2012 because investor confidence remains strong. The company's stock never did hit the lofty US$1,001 per share that White predicted last April, however.

Some of White's rationale for the upbeat outlook is admittedly a bit out there. He expects Apple to offer multiple sizes of its next handset to appeal to emerging markets (despite the fact that it will have the iPhone 5 and 4S for those) and, not quite as far-fetched, that the iPhone will be available in colors beyond the current white/silver and black/charcoal versions when it hits shelves.