“The analyst reiterated his buy rating on shares of the Cupertino, California-based company as well as his $200 price target, implying 8 percent upside over the next year,” Franck reports. “Apple’s stock is down 2.7 percent over the past month, underperforming the S&P 500, but up more than 9 percent since January.”
Here are Suva’s five reasons to buy Apple stock right now:
1) Promising 2018 Product Lineup
2) Capital Returns
3) Rising Service Revenue, AppleCare+, Apple Music and App Store Growth
4) Enterprise push mid-term and Applewood (aka India and emerging markets)
5) Attractive Valuation Relative to Prior Cycles
Read more, including explanations of each of the five items above, here.
MacDailyNews Take: Hello, trillion-dollar market cap!
(Depending on the number of shares outstanding which is always a moving target given Apple’s record buyback program.)
[Attribution: 9to5Mac. Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]