“Goldman Sachs adds Apple to its Conviction Buy List with a price target of $163,” StreetInsider reports. “Analyst Simona Jankowski noted that Apple stock trades at a 30 percent discount to the S&P 500 multiple.”
“Jankowski also sees the market shift its focus over the next year from hardware growth to installed base monetization and recurring revenue. The analyst sees Apple with a ‘significant opportunity’ over the next few years to increase its monetization potential given its 500 million iPhone user base,” StreetInsider reports. “With the 500 million user base, Jankowski noted the following opportunities to increase monetization: (1) increased attach of services such as TV, Music, and Pay; and (2) increased attach of additional hardware such as Mac, iPad and Watch.”
StreetInsider reports, “The big catalyst for Jankowski is Apple TV service. The analyst comments: The $100bn Pay-TV industry in the US is ripe for disruption – a trend that accelerated over the summer… a potential launch by Apple next year may help fill the vacuum created by the decline in traditional pay TV subscribers.”
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MacDailyNews Take: We’re currently getting a nice 3.03% bump from this bit of blatantly obvious truth.
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