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July 05, 2012

Wells Fargo Predicting Strong Stock Market Gains for Apple

By Oliver VanDervoort, Contributing Writer

There really hasn’t ever been any doubt that Apple (News - Alert) was going to have a very good year, both in sales and in the stock market. That doesn’t mean that there aren’t some companies who are still surprised at just how good a year Apple could end up having if everything goes right. Recently, one of the biggest banks in the country, Wells Fargo (News - Alert) announced that it will continue to be covering the Apple stocks and gave those stocks a rating of “outperform” while valuing them in the $640-$660 range.



Apple has done a few different things to get it to being as productive and lucrative as its shares currently are, but Wells Fargo says that the impending release of the iPhone (News - Alert) 5 will be the true catalyst for this particular year. The new iPhone 5 has been all the rage since it was officially announced alongside iOS 6 which will have nifty features like its own mapping service, in an attempt to outdo Google (News - Alert) Maps.

Wells Fargo also said that a new kind of iPad, commonly referred to as the iPad mini, was another reason why Apple is on the top of the heap when it comes to technological companies. The new products, which almost always seem to be hot ticket items for the consumer being rolled out once or twice a year, has managed to keep the company’s stock price high as well.

Wells Fargo analysts added that once Apple’s iTV is finally released onto the market, it will be  another money making endeavor that will make the company’s stock price that much stronger. The financial firm did make it clear that they don’t expect for that item to hit the shelves until sometime in the first quarter of 2013.

A refresh of items like the Macbook Pro and the iPod are also expected to be big revenue producers into and ending 2013. 



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Edited by Brooke Neuman
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