Apple got a late Christmas gift on Wednesday, when its AAPL stock experienced the stock’s biggest rise in five years.
While AAPL is still down considerably from the $1 trillion+ high point it hit earlier in 2018, it’s a strong positive move. And one analyst thinks that Apple’s set to be the top-performing FAANG stock in 2019, too.
AAPL is the second worst-performing of the giant FAANG stocks (Facebook, Apple, Amazon, Netflix, Google) this year — with Netflix having seen the most growth, followed by Amazon, Google, Apple and, finally, Facebook in last place (with a 24 percent drop).
However, Loup Ventures analyst Gene Munster thinks that Apple could wind up leading the pack in 2019. Munster’s prediction isn’t so much based on the fact that Apple is going to thrive in 2019, so much as that its rivals will be hit by European-style privacy regulations. Apple, as a company that does not monetize user data in the same way, would not be hit so hard by regulation. (Which is one probably one reason Tim Cook has spoken out in favor of it.)
At time of writing, Apple is trading at $157.17 with a market cap of $745.834 billion. Microsoft is leading the pack with a market cap of $772.05 billion. Amazon is in third place with a market cap of $719.225 billion.
Apple’s 7.04 percent rise yesterday is Apple’s biggest one day rise since April 2014. Apple, of course, wasn’t an isolated case. The Dow Jones rose 1,000 points in a single day as the market rebounded after several bad days.
The question is — given continued concerns about collapsing iPhone sales and even fears about Apple’s Services division — will you be buying AAPL stock at a reduced price in 2019? Let us know your thoughts in the comments below.
Source: Bloomberg
