According to a recent report on the tablet market, Apple’s (NASDAQ:AAPL) iPad should continue to dominate the tablet market until 2015. [1] The report mentions that Apple could sell around 138 million iPads in 2015 while competitors Google’s (NASDAQ:GOOG) Android-based tablet players could sell around 113 million units and Research in Motion (NASDAQ:RIMM) could sell around 29 million PlayBook tablets in 2015. Our estimate in that regard is conservative for Apple as we expect around 45 million iPads to be sold in 2015.
By tweaking the above trend line for 2015, you can see that there could be an upside of about 14% to our $420 price estimate for Apple stock if the above projection becomes true. Our price estimate is roughly 25% above market price.
See our complete analysis of Apple stock.
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