In a note to clients — as noted by MacRumors — Wall Street analyst Brian White thinks Apple will become a trillion dollar company within 12 months as it’s one of the “most underappreciated stocks in the world.”
“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,” he writes. “… 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.”
