Apple continued its upward climb Thursday and, according to one analyst, it could hit $450 a share in 2012.
Just a few days ago, the tech giant's shares were down to their lowest level in almost seven months. So despite its recent weakness, is Apple still the best way to play tech?
Trader Joe Terranova reiterated his call that the Apple was the “ultimate consumer discretionary play.”
He thinks when oil goes down dramaticallyit benefits Apple because consumers want to start spending again.
Karen Finerman didn’t necessarily agree with that assessment. She doesn’t think Apple products are for those who are sensitive to oil prices, although she likes the company. She isn't quite sure what the catalyst was for Apple's rise, but she said the valuation in the tech space “just got too ridiculously cheap.”
Brian Marshall, Managing Director and Senior Analyst at Gleacher & Company, also likes Apple. In fact, he believes shares could hit $450 in April 2012.
“We think Apple is really attractive here,” he said.
Marshall is shocked at how low expectations are for the tech giant’s June quarter.
“I think they’re going to have a good quarter,” he said, “and the valuation is just too anemic.”