Apple Stock Is Cheap: How iPhone 7, 8 Or 9 Can Bring Shares To $200 By 2020
The question now concerns whether or not Apple stock price can make its way up again. One analyst is saying that this will largely depend on the tech company’s next move, whether it will decide to be bearish or bullish.Advertisement
The reasons behind Apple’s recent woes are the iPhone as well as the company’s ability to produce a hardware product as impressive as those it introduced in the past.
According to a report from Apple Insider, UBS Analyst Steven Milunovich believes Apple will continue to sell hardware that delivers profit. However, it will gradually transform itself into a company focusing on service or software. This means that in the future, it’s possible that Apple will be promoting products such as Apple Pay and Apple Music rather than a new generation of gadgets.
Nonetheless, Milunovich insists that the game is not yet over for Apple. For one thing, it’s possible that the company can still release another product that can be touted as “hits.” Furthermore, according to a report from Street Insider, Milunovich believes this can bring up Apple’s stock price within the range of $130 to $150.
What would make the company’s stock go up significantly, however, are products such as virtual reality gadgets or the rumored Apple car, which can bring stock price to a rate of $140 to $165 and $170 to $195, respectively.
Today, there is also fear that Apple might end up a adapting a BlackBerry situation where sales for its iPhone will weaken then drop. This would plunge Apple’s stock all the way down to an estimated price of $70. But according to Milunovich, this scenario is “probably too negative” for the tech firm.
For now, UBS has set a price target of $115 for Apple and has given it a “buy” rating for investors’ guidance.