Experts believe that Apple's stock might soar to a value of $202 within 12 months making it a trillion dollar enterprise. It has also been stated that the Apple is the most underappreciated stock of all.
Apple's stock price has seen a down-size of nearly 9 percent after a record high value of $156.10 in May, but experts believe that Apple might just turn into a trillion dollar enterprise in a year. Wall Street Analyst Brian White stated that Apple's recent sell-off represents a buying opportunity for investors with the launch of iPhone 8 just a few months away.
To quote White,"In our view, Apple's quarterly results will be less important this summer as investors are focused on the iPhone 8 this fall, along with the company's raised capital distribution initiative, depressed valuation and new innovations as showcased at WWDC. We still believe Apple remains among the most underappreciated stocks in the world."
White also stated that the upcoming release of Apple's upcoming smartphone along with the innovations showcased by the company at WWDC indicates towards an exponential increase in the stock values of Apple. White predicted that the stock price might jump to as high as $202 which will make Apple a trillion dollar company which stands at $727 billion currently.
White stated further,"Similar to the bottoming process in Apple during the summer of 2013 that drove a strong rally into the spring of 2015, we believe the bottom in the stock during May 2016 and the upcoming iPhone cycle is setting up Apple to reach our $202.00 price target over the next 12 months."
A similar prediction was made by RBC Capital Markets analyst Amit Daryanani in May who stated the stock price may reach to $195. However, White's predicts the highest value for Apple's stock.