James Altucher has made some pretty outrageous predictions over the years. You know Altucher – he told us last summer than he expected the Dow to hit 20,000 by the end of 2012.
That prediction remains unconfirmed but another prediction that he made back in 2007, seemed just as outrageous at the time – and it’s turned out to be prescient.
On July 25, 2007 he told us, “I really think Facebook, when it goes public, we could see Google like numbers. When it goes public, Facebook should have a $100B market cap.”
At the time we snickered. Facebook with a market cap of $100B seemed absolutely outrageous – pie in the sky. It was just as unthinkable as the Dow hitting 20,000.
Now as Facebook files paperwork for an IPO, some pros think $100B is cheap.
Considering his forecast was far more accurate than we would have ever expected, we were eager to find out what else Altucher predicts.
“It’s a no brainer,” he tells us. “Apple should hit a $1 trillion market cap within the next year.” He goes on to say that at “9 times trailing cash flows and with 100% growth, current valuation is more likely a utility than a growth stock.”
Again, it’s a bold call – if Altucher is right, Apple would trade to $1000/ share. This time, however, we're not laughing.
* James Altucher is managing director at the hedge fund Formula Capital and the author of several books on investing.
______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.
Trader disclosure: On Feb 6, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova is long GOOG; Terranova is long JOY; Terranova is long TRLG; Terranova is long AXP; Terranova is long MUB; Terranova is long LQD; Terranova is long SBUX; Terranova is long CNX; Terranova is long SU; Terranova is long OXY; Terranova is long MA; Terranova is long MCD; Terranova is long SNDK; Terranova is long EMC; Terranova is long IBM; Terranova is long VRTS; Seymour is long AAPL; Seymour is long BAC; Seymour is long INTC; Seymour is long YHOO; Adami owns C; Adami owns GS; Adami owns MSFT; Adami owns AGU; Adami owns NUE; Adami owns INTC; Adami owns BTU; Kelly is long TLT; Kelly is long SPY calls; Kelly is long SPY puts; Nations is long SPY; Nations is long BAC; Nations is long C
For Michael Pachter
No disclosures
For Willie Williams
No disclosures
For Seth Kleinman
No disclosures
For James Altucher
I own investments in agencies that market their clients on Facebook
For Dennis Gartman
Gartman is long copper
Gartman is long Aussie dollar
Gartman is short Swiss franc
For Michael Pachter
No disclosures
CNBC.com with wires.
