The iPhone makes Apple one of the best growth stocks to buy today—now that the dust has settled and Cingular has been selected as its sole distributor, according to Georges Yared, stock analyst and author of the new book Stop Losing Money Today.

Mr. Yared’s target price for Apple is $125 this calendar year.

“The stock is up 10-fold in 4 years. With the launch of the iPod and the iTunes store, the stock exploded. And the iPhone is about to follow,” he says
Mr. Yared writes extensively about Apple in Stop Losing Money Today, and lists these additional reasons why the company’s stock is a good buy:
• Apple has displayed over 20 percent sustainable corporate growth, high cash flow generation and will eventually offer wireless iTunes products.
• December 2006 quarterly results were stunning. AAPL reported EPS of $1.14 on revenues of $7.1 billion, versus expectations of $0.78 EPS on revenues of $6.4 billion. The momentum was enormous across all product segments. EPS for fiscal year September 30, 2007 should be in the $3.20 range and for September 2008, early estimates call for $3.85—but look for them to cross over the $4.00 range.
• Apple retail stores sell over $4,000 worth of merchandise per square foot of selling space per year, making them the number one retailer in America. With over 170 stores in the US and abroad, Apple has room to double their store base and therefore their ultimate franchise value.
• iPod sales were 21 million in the December quarter alone, versus 9 million in December 2005. Can anyone say, “mainstream”? The installed base is now at 90 million units. In addition, the iTunes store sold over 1 billion songs in calendar year 2006—more than the 11 previous quarters combined! Amazingly, both the iPod and iTunes markets are still under-penetrated. There is room for massive growth with both new buyers and of course, the typical upgrade cycle.
• Apple’s Mac business, CPU market share and general software upgrades are selling through with double-digit growth. Few investors focus on them, but these segments carry high margins and plenty of repeat business.

It must be noted that Apple’s stocks closed at $84,51 on Friday, so if Mr. Yared’s projections are correct, Apple investors will make a hefty profit.

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