If you’re anything like me, you perennially feel like you missed the best time to invest in Apple stock.
In fact, if Loup Ventures analyst and investor Gene Munster is correct, this may be the perfect time to invest all your worldly possessions in AAPL. According to Munster, Apple stock is poised to rocket up 70% in the next two years. That would make Apple a $1.5 trillion company.
“There’s meaningful upside to the Apple story,” Munster told CNBC. “I think this can be closer to $350 [a share]. … I know historically it has not gotten the multiple. But I think that will slowly change.”
Munster is particularly excited about 5G, which he thinks could help reenergize iPhone sales after a period of being “a little muted.” A 5G iPhone is heavily rumored for 2020.
He’s also excited about Apple’s burgeoning Services division, which others have predicted could help Apple recapture its $1 trillion market cap. “Longer term, there are obviously opportunities on services for products that they can have, whether it’s this gaming, this arcade service, or this video streaming service,” Munster said.
Can we believe Munster?
Of course, not everyone is going to be ready to plump all their savings into AAPL. It’s also worth remembering that Munster’s most famous Apple prediction was that the company would build a physical TV set. Years later, that is no closer to coming true than it was when he first mooted it.
Still, Munster talks a lot of sense when he discusses Apple’s upward trajectory. The stock is already up this year. Like other notable investor Warren Buffett, Munster simply thinks we can’t do without Apple in our lives.
“While there are fluctuations in the businesses like Clorox and Coca-Cola and businesses like the iPhone, I think the same underlying message is true,” he said. “We cannot live without Apple. We cannot live without those other staples.”