Apple shares hit $500, and why it's still a buy

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In the following video, Motley Fool senior technology analyst Eric Bleeker breaks down why Apple (Nasdaq: AAPL) is still a compelling buy at $500.

Eric lays out the company's 2013 revenues and shows that how with just a few key opportunities like business spending, growth already seen last quarter, and Apple TV, the company is already on target to hit expectations that'd put it at just over 10 times 2013 earnings. Then if you throw in other outsized opportunities like international smartphone sales, Apple still has ample room to exceed its expected 69% growth rate between fiscal 2011 and 2013.

Apple's become a monster of a company, but if you're wondering just how big can it can get, there's plenty of opportunity still in front of it.

If you are looking for ASX investing ideas, look no further than "The Motley Fool's Top Stock for 2012." In this free report, Investment Analyst Dean Morel names his top pick for 2012…and beyond. Click here now to find out the name of this small but growing telecommunications company. But hurry – the report is free for only a limited period of time.

A version of this article was originally published on Fool.com. Authorised by Bruce Jackson

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