While may saw Apple’s stock cost fall 9% from its all-time high of $156.10, Wall street analyst Brian White still believes this represents “yet one more purchasing opportunity” with analysts as well as investors turning their interest to the unannounced, however commonly leaked iphone 8‘s release.
Expected to debut in September, the new phone might see huge sales numbers for Apple.
MacRumors got its hands on a note by White in which he states that he believes Apple is still an under-appreciated stock, as well as that the iphone 8 might represent a great investment opportunity.
In our view, Apple’s quarterly results will be less essential this summertime as investors are focused on the iphone 8 this fall, together with the company’s increased funding distribution initiative, depressed valuation as well as new developments as showcased at WWDC. We still believe Apple stays among the most underappreciated stocks in the world.
Most fascinating is where White sees Apple’s stocks going in the future. The analyst added that the upcoming iphone release represents an outstanding possibility for Apple to reach his $202 cost target over the next 12 months. If that were to occur it would mean Apple would be valued as over a trillion dollar business based on market capitalization.
Apple’s present market capitalization is approximately $737 billion, which is not to be sniffed at.
Similar to the bottoming process in Apple during the summertime of 2013 that drove a strong rally into the spring of 2015, we believe the bottom in the stock during may 2016 as well as the upcoming iphone cycle is setting up Apple to reach our $202 cost target over the next 12 months.
While all this seems fantastic for investors, Apple still has some method to go before this prospective future can come to fruition – AAPL closed at $142.73 on Thursday.
(Source: MacRumors)
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