“Venture capitalist Gene Munster told CNBC on Tuesday that there’s been a ‘paradigm shift’ in how investors view Apple,” Berkeley Lovelace Jr. reports for CNBC. “‘We’re referring to it as Apple as a service, and that’s not reflecting their services segment,’ the founder of Loup Ventures said in a Squawk Box interview.”

“‘This is a concept that the hardware is actually performing like a subscription,’ he added, noting that Apple consumers often exchange their old iPhones for a newer version about every three years. ‘If in fact that is the case, I think that the multiple on Apple will go up,’ Lovelace Jr. reports.

“Apple on Thursday became the first publicly traded U.S. company to hit $1 trillion in market cap,” Lovelace Jr. reports. “It also reported strong quarterly results last week, posting big beats on earnings per share and average iPhone selling price.”

Read more in the full article here.

MacDailyNews Take: Yup. Apple remains rodiculously undervalued regardless of Wall Street’s glacially slow recognitin of reality.

Apple’s services business is an unstoppable locomotive that, someday, even Mr. Market might fairly value.MacDailyNews, August 9, 2017

Trillion, schmillion. Over time, Apple will go much higher than that. The company is currently horribly undervalued.MacDailyNews, March 1, 2018

The next ten years are going to be absolutely amazing for Apple. The company has just started to really get going!MacDailyNews, August 2, 2017

Apple’s killer services business will be a profit monster within 10 years – July 16, 2018
Morgan Stanley: Buy Apple shares on the ‘emerging power’ of its services – May 24, 2018
Apple as a service: Services offer growth, visibility, and profitability – May 15, 2018
AAPL’s paradigm shift – May 11, 2018
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