Back in April, Apple share price hit record high at $617.92s with reaching a peak later at $620.93. Over on which, Piper Jaffray senior research analyst Gene Munster joined Topeka analyst Brian White in predicting a run to $1,000 by 2014. Today, Topeka Capital Markets analyst Brian White wrote in a note to clients saying that Apple is on track to record the most profitable year among the publicly traded companies.
Here is what analyst White said about it:
“In CY12, we believe Apple is poised to generate the highest annual net income of any publicly traded company ever,” White wrote. “On average, we estimate Apple’s net income in CY12 will be over 6x higher than the three tech companies on an individual basis (when at a $500 billion market cap) or 1.9x the aggregate profit of these three companies combined. When including all five companies, we estimate Apple’s net income in CY12 will be 4x higher than the average.”