Year 2013 will be a very important and eventful one in the land of Apple (NASDAQ:AAPL) as the company is expected to move from an annual product upgrade cycle to a six-monthly one, giving Apple’s stock a big boost, market experts told CNBC on Monday.
“We’re on the cusp of an enormous product upgrade cycle and we think Apple’s earnings are going to be dynamite in the 4th quarter,” said Channing Smith, co-manager of the Capital Advisors Growth Fund, on CNBC’s “Squawk on the Street”.
Smith said he expects Apple’s stock to grow 20% over the next few years and retest its all time highs of $705.07, achieved just ahead of Apple’s iPhone 5 launch in September, 2012.
“If you think Apple’s franchise is in trouble, then you sell the stock. We don’t think that’s the case,” Smith said, adding that Apple earnings are going to surprise on the upside come January.
Meanwhile, Eric Jackson, founder of Ironfire Capital LLC, said besides speeding up the product upgrade cycle for the iPhone series to a six month cycle instead of a 12 month cycle, Apple is expected to introduce some new products in FY 2013, including the much-anticipated “iTV” slated for November, and possibly even an iCar system, which would control navigation and entertainment in automobiles.
“I think Apple always vacillates between the two extremes of fear and greed, and right now I think we are kind of hitting that max fear point, with people all worried about margins and what the future products will be,” Jackson said, adding that “what only kind of shatters that fear and gets people greedy again – what led to the big run up this year  – is when people realize that the current product portfolio is going to be much bigger than expected.”
Apple shares closed at $532.17 on Monday, up more than $22, or 4.43%, to $532.17.
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