“As Apple’s market cap approaches $1T, it begs the question; can shares move higher? At Loup Ventures we do believe the Apple story is well positioned for future appreciation based on a longer-term, more sustainable investing paradigm,” Gene Munster writes for Loup Ventures. “The recent move higher in shares of AAPL is likely an early reflection of this emerging paradigm shift.”

“About every 10 years, there is a new paradigm that drives investor thinking on the Apple story. It started with the growth of the Mac (’80-’85), then post-Jobs and competition from the PC (’85-’97), then the iPod along with its halo effect which increased Mac market share (’01-’06), and most recently, the iPhone (’07-present),” Munster writes. “We define the next paradigm as Apple as a Service.”

Munster writes, “The Apple as a Service paradigm will not need a super cycle for the Apple story to remain favorable with investors.”

Read more in the full article here.

MacDailyNews Take: As we wrote last August:

Apple’s services business is an unstoppable locomotive that, someday, even Mr. Market might fairly value.

Apple Services: The nitrous in Cupertino’s profit engine – November 27, 2017
Inside Apple’s massive services results – August 9, 2017
Misunderstanding Apple Services – August 7, 2017
Dispelling the Apple Services myth – May 3, 2017
Apple’s Services business: $7 billion in revenue last quarter alone – May 3, 2017
Apple’s Services (App Store, Apple Music, Apple Pay) business is an unstoppable juggernaut that’s still just gathering strength – May 3, 2017