In the following video, Fool analysts Andrew Tonner and Brendan Byrnes discuss whether Apple (Nasdaq: AAPL) can reverse its recent course and surge to $900 in 2013.
It's the time of year when analysts issue their update price targets for the year to come, and at least one has set a $900 target for Apple in 2013. Andrew isn't confident enough to say Apple could hit that lofty mark, but he believes it's in for a substantial gain.
Apple has a refreshed product line coming into the holiday season, including the new iPhone 5 and a new iPad and iPad Mini.
There are also some additional catalysts that could push the stock higher, including its dividend and a large hoard of cash that represents more than $100 per share.
Apple is trading at a 66% discount to the overall market in terms of earnings, but its growth prospects are much brighter, Andrew says.
Andrew Tonner and Brendan Byrnes own shares of Apple. The Motley Fool owns shares of Apple, Amazon.com, Google, and Microsoft. Motley Fool newsletter services recommend Apple, Amazon.com, Google, and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.