Gene Munster sees long-term upside for Apple stock
Last month, Deepwater Asset Management’s Gene Munster said in an interview on CNBC that the impact of Apple Intelligence on Apple’s earnings won’t be seen until the next “few quarters,” pointing to long-term upside for Apple stock.
He has revised his targets for growth but believes the stock has upside in the long term.
“I own it personally and think there’s still some upside. I’m always looking ahead, and I believe the numbers still have room to grow. However, one piece has changed. If you had asked me two weeks ago, I would’ve said the Street expected iPhone growth around 15% for fiscal 2025. I’ve revised that — I now think it’s closer to 10%. The Street is at 5%, so I still see upside, but not as much. I’m also shifting some of that revenue into 2026, so this represents a slight change in my perspective.”
MacDailyNews Take: Apple Intelligence is a multi-year supercycle, not an immediate one.
As we wrote back in July:
Get ready for the looming multi-year:
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