rtmark
LearnBonds.com

Apple Inc. 100% Gain Is on the Cards Says Morgan Creek

Apple Inc. (NASADAQ:AAPL)

Apple Inc. shares have not shown any noticeable growth in the past 52-weeks, but this does not seem to affect the confidence that chief executive and CIO of Morgan Creek Capital Management, Mark Yusko, has on the firm. Apple’s stock saw a growth of 2.7% on Wednesday afternoon, despite that the stock is around the same levels as it was a year ago i.e. $116.

Apple Inc. logo

Strong product cycle

In an interview with CNBC, Yusko said he is very confident that in the next one-and-a-half to two years, Apple’s stock price will double. When asked what makes him so confident on Apple doing well, Yusko said the ongoing product cycle of the firm is very strong, and at the same time, it has an ability to take a larger share of the smartphone market in China.

Yusko also expressed his preference for Apple devices over other big household tech names. “We’ve got Facebook, Amazon, Netflix and Google — all have had these huge runs, and I think maybe taking some chips off the table with Amazon and replacing with Apple is a great idea here,” the expert said.

Apple added to ‘convention buy list’

Separately, Goldman Sachs is also bullish on Apple Inc. , and expect a growth of 43% in the coming year. On Wednesday, it added Apple to its ‘convention buy list’ as well. The analysts have set a price target of $163 on Apple’s stock.

The investment bank said the shift in the focus of investors, who previously cared more of the number of units that the firm sold, to the number of services Apple is getting users to pay for, is turning them bullish on the stock.

“Apple’s multiple embodies the scars from prior fallen giants in hardware (Motorola, Nokia, BlackBerry, and HP, to name a few),” Goldman Sachs said in the note. They analysts believe there are not many similarities between Apple’s business model and those of traditional hardware firms. Rather, it has more similarities with firms that use content and services to monetizing mobile users.

On Wednesday, Apple Inc. shares closed up 3.17% at $117.29. Year to date, the stock is up over 6% while in the last one-year, the stock is up almost 3%. The stock has a 52-week high of $134.54 and a 52-week low of $92.

All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Avatar

Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.

X

Leading Social Trading Platform with 0% Commission

Leading Social Trading Platform with 0% Commission

Leading Social Trading Platform with 0% Commission

TRADE WITH ETORO

75% of investors lose money when trading CFDs.

Leading Social Trading Platform with 0% Commission
TRADE WITH ETORO

75% of investors lose money when trading CFDs.

HTML Snippets Powered By : XYZScripts.com