DA Davidson senior analyst Tom Forte (Tom Forte) said on Tuesday that Apple’s potential plans to release 5G mobile phones worldwide, as well as the trend of remote work and online learning under the epidemic, may push the company’s stock price to rise further.
Earlier this month, Apple became the first listed company in the United States with a market value of US$2 trillion, about two years after reaching the US$1 trillion milestone. The company’s shares rose 1.2% on Monday.
Fuerte said: “In my opinion, what is striking is that Apple has achieved a market value of $2 trillion without selling a 5G mobile phone.”
He added: “As long as the 5G iPhone brings positive growth in the smartphone sector for many years, Apple stock will continue to perform well.”
Apple is currently the third largest smartphone manufacturer in the world after Huawei and Samsung. There were reports last month that the company will release four 5G series phones this year, with three different screen sizes. The report also said that Apple is facing a one to two month delay in mass production of new phones.
In addition, due to the new crown virus pandemic, more people are working remotely and learning online.
Fuerte cited Logitech’s estimates that there are an estimated 1 billion people working at home in the world. He said: “So on this basis, for Apple, in addition to strong iPhone sales, you will also see strong demand for tablets and laptops. As long as consumers continue to work and learn remotely, I think we will See more strength on tablets and laptops.”
Apple recently announced that it will conduct a 1:4 stock split. Forte said that this move may push the company’s stock price to continue to rise. His DA Davidson had previously raised Apple’s target price from US$355 to US$480, and now Apple’s stock price has exceeded US$500. Forte said the company is reassessing its target price.
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