Analyst on Apple: $900 is Coming!
CHEAT SHEET Analysis: Excellent Relative Performance Versus Peers and Sector
One of the core components of our CHEAT SHEET investing framework focuses on the company’s performance when compared with rivals. The increasing might of competitors has been the biggest headaches for those charting Apple’s growth path, but according to Munster, the dominance of Google’s (NASDAQ:GOOG) Android in the smartphone market was not likely to remain a long-term worry.
“It’s disturbing if it lasts for the next couple of quarters,” he said. “We expect those numbers to dramatically jump back in favor of Apple, obviously in the December quarter and the March quarter. You’ve got to look at it in context of the year, not the September quarter, which nobody was buying an iPhone.”
The stock will soar again on the back of the demand for Apple’s bestsellers, Munster said. “The demand for iPhone, the demand for Apple products continues to be exceptionally high,” he said. “People want their products and we think that that ultimately going to drive the stock higher.”
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