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    TechCentralTechCentral
    Home»Sections»Investment»Battered Apple shares poised for major recovery: Munster

    Battered Apple shares poised for major recovery: Munster

    Investment By Agency Staff27 December 2018
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    Move over, Netflix: Apple will be the best performing “Faang” stock in 2019, according to veteran analyst Gene Munster.

    Apple will be rewarded in the coming year as investors focus more on revenue and earnings growth rather than iPhone unit sales, said Loup Ventures’ Munster, who has covered the company for more than a decade.

    The Cupertino, California-based company will also benefit from excitement about a network upgrade in the US that could occur as soon as 2020.

    Apple’s success in safeguarding consumer data could also help the company in 2019

    With a few days to go in 2018, Apple is the second-worst performer in the group of large-cap Internet and technology stocks. It’s been a year that saw the iPhone maker become the first to reach a $1-trillion market capitalisation and then lose its crown as the world’s most valuable company to Microsoft.

    Apple’s 7% decline trailed Facebook, whose stock has fallen 24% this year amid a slew of controversies. Netflix is up the most this year with a 32% gain, followed by Amazon.com’s 26% climb. Google parent Alphabet is off less than 1%.

    Apple’s success in safeguarding consumer data could also help the company in 2019, according to Munster, who predicts US lawmakers will pass data-privacy regulations. Munster expects Apple to spend $1.4-billion on original television content in 2019 and release a streaming service late in the year.

    To be sure, Munster’s biggest prediction for 2018 — that Amazon would buy Target — hasn’t panned out.  — Reported by Jeran Wittenstein, (c) 2018 Bloomberg LP

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