Will Apple Wow The Crowds In 2010?
If there’s one stock that investors love its Apple. In a daily report distributed every morning here at CNBC, Apple has regularly been among the most 'searched for' companies on CNBC’s website.
That probably doesn’t surprise you. Apple has generated a great deal of interest in 2009 -- and not just in the US.
New data on Internet searches shows that the iPhone was the most searched-for product in the UK this holiday season, while the second most searched-for product was also made by Apple: the iPod Touch.
And Apple’s mojo doesn’t end there.
In a little more than a year, Apple’s ap store – or the online store for iPhone and iPod touch applications -- recently topped 2 billion downloads.
Not too shabby.
It explains the whopping gains in Apple shares this year – the stock is up well over 130% in 2009.
But can the tech titan perform as impressively in 2010?
Piper Jaffray analyst Gene Munster thinks it can. "There’s a paradigm shift going on," explains Munster. "People are going from cell phone to computer in their pocket and Apple is in a great spot for that."
And he likes the stock for other reasons too.
"There's a 70% probability that Verizon gets the phone by the middle of next year." That would address complaints some iPhone owners have with AT&T service.
But perhaps the biggest catalyst in 2010 is the tablet, a device only rumored to exist. "This is a product unlike no other product," Munster says. "We think it's coming as soon as Q1 and it's going to be 3% of sales. And it's currently not in Street models. That's another upside to owning the stock. You don't have the tablet priced in."
Munster has a $277 price target on the stock.
Karen Finerman and Joe Terranova are also bullish but in the past Terranova has pointed out that the stock appears to be challenged around $205.
What do you think? We want to know!
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Trader disclosure: On December 21st, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (AA), (BAC), (ETFC), (INTC); Finerman Owns (AAPL), (GOOG); Finerman's Firm Owns (MSFT), (NDAQ), (SKS), (TGT), (WMT), (BDX), (BCR); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (TLT); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spread; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (CVS); Finerman's Firm And Finerman Own (WFC) Preferred
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