Some people like to claim that Apple is a cult…and maybe they have a point. I’m not saying it’s 100% accurate—although their product launches have the air of a religious ceremony—but people like U2’s lead singer Bono have compared the Silicon Valley behemoth to a cult.
And Bono knows more than most about worshiping oneself.
Then there was the creepy 1984-inspired ad launched in 1984, announcing the debut of the Macintosh computer.
There are also the long lines outside of Apple stores around the world when the latest Apple gadget or gizmo is released. It is a communal experience that brings the masses together.
But once again, I am not saying that Steve Jobs’ brainchild is a cult…I wouldn’t dare to say such a thing.
That is for you, our most valued reader, to decide.
Whether it’s a cult or not is a discussion for another time. But what is relevant about Apple is that our Green Zone rating is “bullish” on buying Apple shares right now.
And we aren’t alone in our sunny outlook for Apple shares.
Morgan Stanley analyst Katy Huberty raised her price target for Apple shares from $164 to $200.
As of this writing, shares have surged past $170, which is a record for the company.
Huberty is encouraged by the company’s prospective venture into augmented and virtual reality, as well as autonomous vehicles, which she feels hasn’t been properly priced into Apple shares.
In a note, Huberty wrote, “Despite a consistent and material revenue contribution from new products and services over time, Apple shares don’t seem to bake in the impact from upcoming new product launches. She added, “We believe this will change as Apple approaches the launch of an AR/VR product over the next year.”
Shares have soared to new heights over the past five years, increasing nearly 500%, which has been driven largely by new products and services, including Apple’s services business, which has grown to nearly $70 billion annually, and its wearables and accessories business has contributed $38 billion annually.
Apple is a hot stock, which has a lot of upsides and continues to grow to record highs.
Regardless of whether you consider it a cult or not, one thing is for certain: Apple stock is a huge moneymaker, and given its current “bullish” rating, that’s more than enough reason to get excited.