Apple Stock To $450, Says Needham's Charlie Wolf

Apple stock is going to $450, Needham analyst Charlie Wolf said in a note today, jacking his price target up from $375. (Shares are up 1.8% today to $353.)

Why? As Apple Insider summarizes:

  • Wolf expects Apple to ship 75 million iPhones this year, and almost 100 million in 2012
  • The iPad is going to dominate and won’t rapidly lose market share as Android tablets take off (similar to what we said last week)
  • Wolf expects Apple to ship 30 million iPads in 2011 (90% market share) and 46.5 million in 2012 (80% market share)

Here’s how Wolf gets to $450 per share:

Needham AAPL valuation

Photo: Needham via Apple Insider

Read: Here’s Why Apple’s iPad Will Dominate The Tablet Market For Years

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