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Safe haven: Apple stock is a ‘place to hide’ amid volatile markets – analyst

Justin Rowell by Justin Rowell
29.09.2022
Home Computing

Amid a rocky start to the year for technology stocks, Apple shares represent a safe haven as the company could continue to see strong iPhone demand throughout 2022, according to Piper Sandler analyst Harsh Kumar.

Apple logo

Emily Bary for MarketWatch:

Given the company’s prospects for the year ahead and the volatile tech backdrop, he recommended Friday that technology investors “look at Apple as a ‘place to hide’ in the current environment.”

When it comes to Apple’s story, “nothing matters like the iPhone,” he wrote, adding that this part of the business seems well positioned for 2022. In the U.S., carriers continue to build out their 5G networks and offer subsidies on new phones, which could help drive demand. China represents a further source of strength, and India has the potential play an increasing role in the years to come.

Looking more broadly at Apple’s narrative, Kumar sees opportunity for the company to eventually notch a $4 trillion valuation by becoming a bigger player in the worlds of healthcare and automobiles. “In healthcare, we see the Apple Watch continuing to add more and more features, with the goal of eventually offering a blood sugar monitoring system,” he wrote.

Technovanguard Take: Apple remains significantly undervalued. As for Apple Watch and blood glucose monitoring, Apple is known to be working on Non-invasive Blood Glucose Monitoring for Apple Watch Series 8 which would supercharge already world-beating sales:

Initially envisioned by the late Apple co-founder Steve Jobs, Apple engineers were tasked with developing sensors that can non-invasively and continuously monitor blood sugar levels to better treat diabetes. Before his death, Jobs envisioned wearable devices, like smartwatches, being used to monitor important vitals, such as oxygen levels, heart rate and blood glucose, as Christina Farr reported for CNBC back in 2017.

If achieved, Apple Watch would become the essential device for hundreds of millions of people with diabetes. Non-invasive continuous glucose monitoring would indeed be the holy grail for treating diabetes. – Technovanguard, April 12, 2017

Back in 2013, EDN covered non-invasive blood glucose monitoring using near-infrared spectroscopy here.

Please help support Technovanguard. Click or tap here to support our independent tech blog. Thank you!

Shop The Apple Store at Amazon.

[Thanks to Technovanguard Reader “Fred Mertz” for the heads up.]

The post Safe haven: Apple stock is a ‘place to hide’ amid volatile markets – analyst appeared first on Technovanguard.


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