Apple stock might be down slightly from its crazy record-breaking high earlier this year, but that’s not dampening Wall Street analyst Brian White’s belief that it’s just 12 months away from becoming the world’s first ever trillion dollar company.
In a research note to clients, White refers to Apple stock as one of the “most underappreciated stocks in the world.” We’re pretty certain that’s an invitation for people to buy!
Buy, buy, buy!
White’s price target on AAPL currently stands at $202. At time of writing, Apple is trading at $143.79. Should White’s target prove correct, it would increase Apple’s market cap from its present $737 billion (still nothing to be sniffed at!) to over a trillion dollars.
Perhaps unsurprisingly, White is basing his thoughts on Apple’s potential price boom on the pent-up demand for the iPhone 8, which is set to be Apple’s most significant iPhone refresh since the iPhone 6 and iPhone 6 Plus way back in 2014.
He even suggests that Apple’s upcoming quarterly results are fairly insignificant since it’s going to be the calendar Q4 period — when the new iPhones are on sale — when Apple will live up to its potential.
White is far from the only person on Wall Street singing Apple’s praises. In a recent interview, Berkshire Hathaway CEO Warren Buffett said that he loves what Apple is doing with its buyback program for investors — and isn’t the slightest bit worried about current iPhone sales.
In recent years, Apple has passed a number of major milestones in terms of its value. Back in May, it briefly became the first $800 billion company in history; having broken records as the world’s first $700 billion company two years before that.
Do you predict that a trillion dollar valuation is in Apple’s near-term future? Leave your comments below.