Another $1000 Price Target on Apple (AAPL), This Time From the Ax

Piper Jaffray's Gene Munster lifted his formal price target on Overweight-rated Apple (NASDAQ: AAPL) from $718 to $910 but said the stock will will reach $1,000 by 2014. This will make Apple the first trillion dollar company.

"Shares can reach $1,000 based on our belief Apple will continue to win in global mobile devices," Munster said.

Munster is no push-over on the stock and has been right for a long time. Some consider him the ax in the stock, or most influential analyst.

He is not the only one on Wall Street that sees a $1000 price for Apple in the future. Yesterday, Topeka Capital's set its own $1001 price target of the stock.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $618.63 yesterday.

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