To those who believe Steve Wozniak is misguided in his statement that Apple’s stock could reach $1,000 a share, don’t be so naive. Back in 2003, Apple’s stock was hovering around $7 a share, and has now grown to over $500 a share.
If Facebook is our generation’s GE, Apple is America’s Saudi Aramco. Apple has built a company whose products sell better than fossil fuels. Completely renewable, the price of these products will never go up – they are more likely to go down over time.
Comparisions between Apple and oil companies are sort of absurd when you think about it. As the most valuable corporations on the planet, oil companies are only valuable as long as we don’t exercise different avenues of natural energy. If solar or wind energy took off, we would able to dramatically reduce our usage of oil. The value of these companies would drop immensely, while natural energy companies would dramatically rise.
And sure, people could stop buying Apple products. But would we find an alternative to smartphones and computers? I doubt it. And with Apple, what current company has the capability to take away from what they have built? Google? Microsoft? Do you really expect another company to come in and take down Apple, or will their impending failure be due to the lack of technological advancements in their products?
I’m not saying Apple is infallible, but I do believe that the only way they won’t reach that $1,000 share benchmark will be by their own mistakes. And they don’t make many.