There are some analysts who can put a hex on a company’s future prospects. Gene Munster of Apple television fame is one of them. Danny Vena:
One longtime bull thinks shareholders are missing the big picture. He believes that Apple is taking a breather before a massive run that could see the stock more than double from its current price over the next three years.
Uh oh. Sounds like a hex in the making.
Gene Munster should be no stranger to longtime Apple investors, having covered the company since 2004.
And what is Munster’s record of covering Apple for 14 years? Apple Television.
Munster pointed out that 18% of global smartphone owners “are committed to Apple” products, and he doesn’t see that changing. This should provide a significant pool of growth for the company’s services.
Don’t forget that Services are dependent upon hardware sales, and Apple’s hardware sales are not growing.