With the stock market closed for Good Friday, it seems like a good time to share what analysts are saying about three tech stocks: Apple Inc. (Nasdaq: AAPL), Google (Nasdaq: GOOG), and Priceline. According to Wall Street, Reuters, and MSNBC, these three companies are on pace to reach $1,000 per share within the next two years.
Of the three, Priceline looks to me most like those dot-com companies that fueled the last tech bubble. At least Apple and Google make or license hardware and provide content and technology. (I have an admitted bias toward hardware, having covered manufacturing for about 20 years. But it is a bias I continue to re-evaluate.)
Here's what one analyst told MSNBC about the race:
“[The $1,000 level] really shouldn’t matter, but people still remember the dot-com bubble,” said S&P Capital IQ analyst Scott Kessler. “The fact that we are seeing stocks rise to these levels may be a signal of that sentiment again.”
Another footnote to the report is particularly interesting to those of us in the supply chain. One company that has already reached and exceeded the $1,000 barrier is Berkshire Hathaway. It owns the distributor TTI Inc., which closed its acquisition of Sager Electronics this week. TTI also owns Mouser Electronics Inc.
It should be noted that there are a number of other companies with stock prices that have risen above $1,000.
Those companies include class B shares of Warren Buffett’s Berkshire Hathaway, which once traded above $3,000 before the company opted for a 50-for-one stock split. It now trades around $80. Berkshire’s class A common shares, however, are now priced around $121,295 each.
Who do you think will hit the $1,000 mark next? Better yet, if you were going to invest your $1,000 in one stock, which one would it be?