Loup Funds’ Gene Munster, Andrew Murphy, and Doug Clinton today weigh in on what Apple’s biggest surprise of 2022 will be as the company “embarks on its next trillion.”
Gene Munster, Andrew Murphy, and Doug Clinton for Loup Funds:
• Gene and Andrew believe the biggest surprise in 2022 will be Apple revealing a MR headset. Doug believes that increased news of a car will be Apple’s top surprise.
• Loup’s opinion: Shares of AAPL will continue to move higher with a $250 price target based on 2022 investor euphoria, in anticipation for two new product categories (metaverse and autonomy) that should increase the multiple on AAPL.
• [Munster]: Given the size of the new addressable markets investors will consider, I see an increased multiple to 35x as reasonable. Adding in my belief that in FY23 Apple will earn $7, yields a $250 share price, about 38% higher than current levels. $3.8T market cap.
Technovanguard Take: As we wrote yesterday when Apple hit the $3 trillion valuation milestone:
Merely a waypoint. Apple remains significantly undervalued. You haven’t seen anything, yet!
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