My stock buying record is just as sound. Whatever famous stock analyst Gene Munster says, I do the opposite. That’s why I do not own an Apple-branded television. Munster might be onto something because Apple’s stock is percolating again.
Up Is Down
One can argue that Apple stock is a good buy these days because the company did not announce it would miss previous guidance for the most recent quarter. Munster seems to think AAPL is cheap and will skyrocket. Soon. After all, news has been rather nasty in recent months and the stock continued to climb.
Stephanie Landsman on CNBC:
Munster predicts Apple stock will rally more than 70% in the next 24 months.
Whoa! What? That’s a healthy rise for a stock priced so high that only the Warren Buffets of the world would buy it. Or, afford to buy it.
There’s meaningful upside to the Apple story. I suspect that this year, Apple will be the best-performing FAANG stock
FAANG is Facebook, Apple, Amazon, Netflix, and Google. Nope. No MSFT for you. Now, is best performing because other stocks will get hammered? Or, is it best performing because the market will continue its meteoric rise? Or, is it best performing because Munster knows something about AAPL and Apple Inc. the rest of us do not?
I think this can be closer to $350 [a share]. … I know historically it has not gotten the multiple. But I think that will slowly change
Luke Dormehl on Munster:
Gene Munster admits he got Apple all wrong (again)
Why? What did he see that nobody else saw?
Hit-and-miss Apple analyst Gene Munster has admitted he couldn’t have been more wrong about the likely customer uptake of Apple’s iPhone Upgrade Program, the $32+ per month scheme designed to get new iPhones into the hands of people happy to pay a monthly fee to Apple.
Of course, Munster has no idea how many of Apple’s customers are on the iPhone Upgrade Program, but he’s the same famous analyst who was certain Apple was ready to release a television that never saw the light of day.
We have been talking about an Apple television for the better part of the last decade… While it is a small consolation that the article affirms that Apple was actually working on a television during that period, in the end we were wrong in our constant expectation of the product
So, Munster beat the drum about an Apple television and was dead wrong. He beat the drum about the iPhone Upgrade Program that would save Apple and AAPL and it did not. Now he beats the drum that AAPL will grow 70-percent over the next few years.
OK, anyone in the know knows that 5G will not be a thing in 2019 and won’t be much of a thing in 2020, and by mid-2021 we’re already 24-months into AAPL’s upswing, so pardon me if I take Munster’s musings with a grain of salt.
Why so bullish on Apple? Because we cannot live without Apple.
While there are fluctuations in the businesses like Clorox and Coca-Cola and businesses like the iPhone, I think the same underlying message is true, we cannot live without Apple. We cannot live without those other staples.
We cannot live without television either, and how did that work out (YouTube notwithstanding?
Munster is all in on AAPL so does that mean it’s time to run?