Let's face it, Apple has more money than they know what to do with. Before their stock buy-back program, they had right around $100 billion in cash. Apple already has the record for most profitable quarter among technology companies, so what is next for the giant? One analyst believes they could become the most profitable publicly traded companies.
"In CY12, we believe Apple is poised to generate the highest annual net income of any publicly traded company ever," White wrote. "On average, we estimate Apple's net income in CY12 will be over 6x higher than the three tech companies on an individual basis (when at a $500 billion market cap) or 1.9x the aggregate profit of these three companies combined. When including all five companies, we estimate Apple's net income in CY12 will be 4x higher than the average."
So why the huge increase in value? White is citing a new iPhone with a 4" screen launching in the third quarter, an "iPad mini" that is set to launch sometime in September, and an upcoming HDTV made by Apple. White has confirmed his buy recommendation along with a price target $1,111, which is about double the current price of $572 (as of opening bell Monday).