Philip Elmer-DeWitt reports for Fortune, “In a note to clients issued Wednesday morning, Piper Jaffray’s Gene Munster takes a crack at the question Apple (AAPL) investors have been asking since January: Why, despite one record quarter after another, is the stock going nowhere?”
In the full article, Munster offers three reasons that will be familiar to those who closely follow AAPL.
P.E.D. reports, “Munster also offers three reasons he believes the stock will soon go higher: [1] Even if the multiple does not increase or goes down, we believe the stock will move higher based on positive earnings revisions; [2] Apple’s entrance into a new product category, possibly televisions; [3] Apple to announce software features for iPhones, iPads and Macs at WWDC on 6/6 that could serve as a near-term catalyst.”
Read more in the full article here.
MacDailyNews Take: Apple, please put out a TV already, so Gene can move on to obsessing about something else (and we can go line up to buy them).