Gene Munster: ‘Apple embarks on its next trillion’

Loup Funds’ Gene Munster, Andrew Murphy, and Doug Clinton today weigh in on what Apple’s biggest surprise of 2022 will be as the company “embarks on its next trillion.”

Apple logo

Gene Munster, Andrew Murphy, and Doug Clinton for Loup Funds:

• Gene and Andrew believe the biggest surprise in 2022 will be Apple revealing a MR headset. Doug believes that increased news of a car will be Apple’s top surprise.

• Loup’s opinion: Shares of AAPL will continue to move higher with a $250 price target based on 2022 investor euphoria, in anticipation for two new product categories (metaverse and autonomy) that should increase the multiple on AAPL.

• [Munster]: Given the size of the new addressable markets investors will consider, I see an increased multiple to 35x as reasonable. Adding in my belief that in FY23 Apple will earn $7, yields a $250 share price, about 38% higher than current levels. $3.8T market cap.

MacDailyNews Take: As we wrote yesterday when Apple hit the $3 trillion valuation milestone:

Merely a waypoint. Apple remains significantly undervalued. You haven’t seen anything, yet!

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  1. “Merely a waypoint. Apple remains significantly undervalued”

    3 Trillion is just a number. It may make entertaining headlines that 3 trillion IS MORE THAN OTHER COUNTRIES! but that statement has no value. A rare painting may be more valuable than 99 percent of world’s population’s lifetime income. Yet the value of that painting is still the value.
    Apple has so many numerous things going for it, putting itself in unique position on design, products, eco, user base, and has an unstoppable earnings machine. When compared to the risk of others and the valuations on those others, Apple is undervalued.

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