Founder of venture capital firm Loup Ventures, Gene Munster, following his accurate prediction of Apple’s run of $2 trillion USD has now stated that Apple is on track to reaching a total of $3 trillion USD market capitalization.
Observing the trading at a price-to-earnings ratio of 35 for 2022’s estimates, Munster stated via CNBC that from a realistic standpoint Apple, may be able to reach up to $200 USD per share to get to the $3 trillion USD market capitalization. According to Munster, “It needs to be anchored in earnings. That’s the powerful piece about the Apple story.” he said “It’s a year out there but I’m fast-forwarding the conversation to the middle and back half of next year, and we’ll be talking about 2022 at that point. If the market can sustain these 35 multiples — you know, we’re not talking about an Amazon-like multiple here — I think that that path is there.”
Munster breaks down the consistent rise of Apple stating that the trend will be continuing as Apple customers continue to buy the hardware for their work situations resulting from COVID-19. Munster also thinks that Apple may seek to expand its business with an entry into the service sector such as a subscription model for various hardware.
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