“Apple shares have fallen nearly 8 percent in the last six months, but FBR Capital Markets analyst Dan Ives said three upcoming catalysts in 2016 could send shares through the roof,” Leanne Miller reports for CNBC. “‘We believe a trillion dollar market cap does get hit in 2016,’ Ives said Monday’s night on CNBC’s ‘Fast Money.’ If so, Apple would be the first corporation to reach that level.”
“On Tuesday, Ives reiterated his outperform rating and $175 price target,” Miller reports. “To reach that monstrous market cap, three things must happen in 2016, Ives said.
First, growth in China needs to remain ‘white hot.’ According to Ives, China will represent a $100 billion market opportunity for Apple as demand in there continues to grow. He said that despite China’s weak economy, demand within the country is large enough to make China Apple’s largest geographic region by 2017.”
“Next, Streaming Apple TV will be announced in 2016,” Miller reports. “The last catalyst is Apple’s car initiative, Project Titan. ‘We believe Apple’s gotten the green light to hire 2,000 employees in 2016,’ said Ives.”
Read more in the full article here.
MacDailyNews Take: The first $1 trillion is the hardest.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]