Apple Predicted to Become Trillion Dollar Company Within 12 Months
Apple's stock price has declined around 9 percent from its all-time high of $156.10 in May, but Wall Street analyst Brian White believes the recent sell-off represents "yet another buying opportunity" as investors turn their focus to the so-called "iPhone 8" rumored to launch this fall.
White believes Apple remains "among the most underappreciated stocks in the world," according to his research note distributed to clients today. A copy of the report was obtained by MacRumors.
In our view, Apple's quarterly results will be less important this summer as investors are focused on the iPhone 8 this fall, along with the company's raised capital distribution initiative, depressed valuation and new innovations as showcased at WWDC. We still believe Apple remains among the most underappreciated stocks in the world.
White, an Apple bull, added that the upcoming iPhone cycle is setting up Apple to reach his $202 price target over the next 12 months, which would value the iPhone maker as over a trillion dollar company based on market capitalization. Apple's current market capitalization is around $737 billion.
Similar to the bottoming process in Apple during the summer of 2013 that drove a strong rally into the spring of 2015, we believe the bottom in the stock during May 2016 and the upcoming iPhone cycle is setting up Apple to reach our $202.00 price target over the next 12 months.
In May, RBC Capital Markets analyst Amit Daryanani also said Apple could reach or exceed a trillion dollar market cap within 12 to 18 months, with a stock price of $192-$195. Like White, Daryanani said the "iPhone 8" will be a major catalyst towards Apple's path to a trillion dollar valuation.
White maintains the highest price target for Apple's stock among all institutional analysts. AAPL closed at $142.73 on Thursday.
Popular Stories
Game emulator apps have come and gone since Apple announced App Store support for them on April 5, but now popular game emulator Delta from developer Riley Testut is available for download. Testut is known as the developer behind GBA4iOS, an open-source emulator that was available for a brief time more than a decade ago. GBA4iOS led to Delta, an emulator that has been available outside of...
Last September, Apple's iPhone 15 Pro models debuted with a new customizable Action button, offering faster access to a handful of functions, as well as the ability to assign Shortcuts. Apple is poised to include the feature on all upcoming iPhone 16 models, so we asked iPhone 15 Pro users what their experience has been with the additional button so far. The Action button replaces the switch ...
A decade ago, developer Riley Testut released the GBA4iOS emulator for iOS, and since it was against the rules at the time, Apple put a stop to downloads. Emulators have been a violation of the App Store rules for years, but that changed on April 5 when Apple suddenly reversed course and said that it was allowing retro game emulators on the App Store. Subscribe to the MacRumors YouTube channel ...
The first approved Nintendo Entertainment System (NES) emulator for the iPhone and iPad was made available on the App Store today following Apple's rule change. The emulator is called Bimmy, and it was developed by Tom Salvo. On the App Store, Bimmy is described as a tool for testing and playing public domain/"homebrew" games created for the NES, but the app allows you to load ROMs for any...
The lead developer of the multi-emulator app Provenance has told iMore that his team is working towards releasing the app on the App Store, but he did not provide a timeframe. Provenance is a frontend for many existing emulators, and it would allow iPhone and Apple TV users to emulate games released for a wide variety of classic game consoles, including the original PlayStation, GameCube, Wii,...
Top Rated Comments
Be as cynical as you want, but Apple's products have certainly made my world better. I'm grateful to have them.
[EDIT] Pic link dead, updated pic to one that works..
EDIT — I meant 5400 rpm. Sorry for this mistake!
Truly amazing story.