Gene Munster, Managing Partner at Loup, said Wednesday that Apple and Meta Platforms are well positioned to become leaders in the tech sector once interest rate increases slow and investor appetite for riskier stocks returns.
Brian Stewart for Seeking Alpha:
Speaking to CNBC, the Loup Ventures founder and managing partner predicted that riskier assets, like those in the tech space, will eventually “come back into favor,” as economic conditions change, with AAPL and META poised for potential upside when that happens.
“If Apple cracks, people will view that as the bottom,” he said. “I don’t think we’re going to that crack.”
Munster pointed to lead times for iPhones, which are running higher than normal for this stage in the product cycle. This leads the analyst to conclude that the firm’s business “continues to do well” despite the macro pressures.
For META, Munster said the Facebook parent “sticks out” as he sifts through “the bargain bin” of “large-cap tech that’s going to be around for decades.”
MacDailyNews Take: You know, like MySpace. Still around (sort of). Hits its two-decade mark next year.
MacDailyNews Take: If you believe there is a future operating system beyond mobile, then Apple is in a great place. Apple has, for many years, been carefully laying the foundation for their widely expected AR/VR smartgoggles and subsequent AR smartglasses.
Meta Platforms will be the Diamond Multimedia of the “metaverse” (which won’t even be called that once Apple enters the market).
See also:
• Why Meta’s Mark Zuckerberg went on Rogan: his metaverse pitch is failing – September 1, 2022
• Trademark filings worldwide show Apple staking ‘reality’ names for mixed-reality headset – August 29, 2022
• Ming-Chi Kuo: Apple’s first mixed-reality headset to cost at least $2,000; to be revealed in January 2023 – August 8, 2022
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So, maybe November ’24?
I think you meant January 21, 2025… if we make that far
Gene Munster seems a little too bullish on the META VR/metaverse business. I don’t see Facebook nailing the engagement model, and I don’t see them delivering powerful dev tools. Facebook’s vision looks like some cute games for the tween crowd, VR chat for the grandparents, and some half-baked unworkable nonsense for everyone else.
For AR/VR I’m placing my bet on Apple.
Size, size, size. Smaller and lighter is more. To become a mass-market product, Apple is gonna have to shrink the hardware way DOWN. Nobody wants a big thing on their head. This is going to take years for Apple, FB, Google and anyone else who tries to sell an AR/ VR product
Seems like there’s a fair portion of unhappiness over at Mark’s place. “Make Mark Happy” has emerged as a meme at the company and, generally, it’s not a positive sentiment. So, this and the significant Meta/FB drop(s), through the yr, I wonder about Munster’s analysis.
Culture would be better off if Mark took one of Elon’s ships to an outer planet. Which one is Mark’s choice…Make Mark Happy.
Good idea, send Mark one way ticket to outer space with his heavy Oculus.
Sounds to me like Gene is over-invested in Facebook… Meta, whatever… and is looking to recoup some of his considerable losses by manipulating the rubes.
I’m not buying META, that much is for damn sure.