“Piper Jaffray analyst Gene Munster shared his views on what investors can expect at Apple’s annual shareholder meeting that is being held in Cupertino today during a recent appearance on CNBC,” Nathanael Arnold reports for Wall St. Cheat Sheet. “Munster expected that the meeting would otherwise mostly consist of complaints from investors who are concerned about a perceived lack of innovation at Apple.”
“Munster also shared his perspective on the potential impact that Apple’s rumored new products will have on the company’s share price,” Arnold reports. “Although the Piper Jaffray analyst observed in a recent note to investors that new products alone won’t significantly add to Apple’s bottom line, he believes that excitement about a new product could boost Apple’s share price in the short term.”
“‘There’s two phases to the stock,’ Munster told CNBC,” Arnold reports. “‘The near term, the next six to twelve months is on the trade, which is what you’re talking about. Our opinion is that it’s hard to say how much they’re going to add. We think it will be about ten percent for two product categories. But probably the bigger impact of the stock is the multiple going up. They get the products in their hands and they get a little excited,’ said Munster.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “David E.” for the heads up.]