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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