“Move over, Netflix: Apple Inc. will be the best performing FAANG stock in 2019, according to veteran analyst Gene Munster,” Jeran Wittenstein reports for Bloomberg. “”
“Apple will be rewarded in the coming year as investors focus more on revenue and earnings growth rather than iPhone unit sales, said Loup Ventures’ Munster, who has covered the company for more than a decade,” Wittenstein reports. “The Cupertino, California-based company will also benefit from excitement about a network upgrade in the U.S. [5G] that could occur as soon as 2020.”
“Apple’s success in safeguarding consumer data could also help the company in 2019, according to Munster, who predicts U.S. lawmakers will pass data-privacy regulation,” Wittenstein reports. “Munster expects Apple to spend $1.4 billion on original television content in 2019 and release a streaming service late in the year.”
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MacDailyNews Take: It would be nice to see Apple come close to being fairly valued. There’s a first time for everything!