Michael Saylor 2012 Apple Stock Prediction Goes Viral, Here’s What Bitcoin Bull Got Right: ‘Whoever Is Selling That Stock Must Be A Moron’ – Apple (NASDAQ:AAPL)

What Saylor Said

“If you ask me, Apple Computer is going to $2,000 a share. I’d be very, very long that company,” Saylor said in the video.

Apple went from being worth $3 billion 12 years ago to being worth $600 billion, thanks to its new devices like the iPhone and strong user base.

“Whoever is selling that stock must be a moron,” Saylor said.

The Bitcoin bull compared the iPhone to a Dell computer that you put under a desk and don’t care if its hot or ugly, you just want it to be $400 or $500. Saylor said if you put a phone in your pocket, you care if its hot and what it looks like, giving Apple an advantage.

Saylor said each iPhone model improves speed, battery life and is lighter, appealing to consumers to buy the newest device.

Unlike computers, which saw prices drop as they improved, Saylor said Apple doesn’t need to lower its prices.

“People know just enough to hurt themselves,” Saylor said of a person who asked him about Apple being able to maintain their prices.

Saylor compared Apple and the iPhone to LVMH’s LVMUY handbags — both items continue to sell for thousands of dollars.

“When the technology goes from being a utilitarian vocational brick that I put under my desk to being a piece of clothing, a fashion statement,” Saylor said of the iPhone.

Saylor called iPhones and iPads as being somewhere between clothing, jewelry and accessories.

“They can hold that price point forever,” Saylor said.

Saylor said Apple can sell an iPhone and iPad to consumers every two to five years.

Related Link: Michael Saylor Summarizes Why MicroStrategy Is Superior To Bitcoin ETFs

Was Saylor Correct? 

Apple shares hit well over $2,000 on a split-adjusted basis years later, making Saylor’s prediction correct.

Saylor’s Apple thesis was mostly true. Today, the company does not need to lower prices. It also sells upgraded models of the iPhone with new features and improved battery life each year.

The iPhone becoming a must-have device has also rung true. The iPhone is one of the top market share leaders in smartphones and, in some cases, considered a status symbol.

Apple shares traded at a split-adjusted $21.31 on May 1, 2012. That could have been around the time Saylor’s comments were made. A $1,000 investment in Apple shares at the time would be worth $9,824.80 today, up 882.5%.

Compare that to the +284.2% return of the SPDR S&P 500 ETF Trust over the same time period.

Thanks to its investment in Bitcoin, MicroStrategy has been a top performing stock of the last 10 years. The same $1,000 invested in MicroStrategy at the same time would be worth $9,374.91 today, up 837.5%.

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