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Apple shares plunge, Google headed for $US1000

AFR | March 5, 2013

Analysts still believe Apple will rebound, with 54 analysts tracked by MarketWatch offering an average price target of $US619.14, and only one of those analysts putting a "Sell" or equivalent rating on the stock.

 

Google

Google has been on a steep rise since late last year, hitting new highs multiple times, and is up 16.1 per cent since the start of the year. That makes it the highest-priced stock in the S&P 500 by more than $US100 and puts it within striking distance of the median analyst price target of $US851 a share, according to Reuters data.

"It seems to be the big momentum stock right now," said Eric Kuby, chief investment officer at North Star Investment Management in Chicago, whose firm does not own Google.

At least two brokerages - Sanford Bernstein and Credit Agricole Securities - believe the stock could hit $US1000 a share before long and several others have a price target of more than $US900.

 

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