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.”
• 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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