The unprecedented iPad sales seen since its launch have helped the Apple share price make a lot of people very rich.
A year ago the Apple share price was $108, now you would have to pay $247.68 per share and those in the know think that the Apple price could rise even further.
Strategists at the U.S. investment bank JP Morgan Chase believe that even though the share price has risen by more than 129% in the last 12 months, that there is still more money to be made in the Californian company.
Mark Moskowitz, an analyst at the bank has raised his Target price on the share to no less than $390 and it is the “rapid growth” in iPad sales and iPhone 4 sales that analysts believe will be the catalyst.
Shares in Apple have risen 18% already in the short time that the iPad has been on sale, partly down to the fact that the 3 million iPads already sold have boosted Apple’s revenues significantly.
With the recent launch of the iPhone 4, which sold 1.7 million units in its first 3 days alone Apple’s revenues are expected to continue to rise as it seems will the profits of its shareholders.
A note of caution though was sounded though earlier today by an analyst at Kaufman brothers who said that there was a “high likelihood that an inventory drawdown and screen supply constraints could impact near-term shipments” of the company’s iPhone over the next two quarters. But he still forecast that the company would ship 7.5 million iPhone 4′s between now and September which should satisfy the majority of demand.
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