Analyst Gene Munster thinks AAPL could reach $400 per share in 2020What you need to know
Analyst Gene Munster was speaking with CNBC's "trading Nation."
He says that AAPL could reach $400 "over the next year."
Apple Watch and AirPods are two reasons for his thinking.
But this is the same Munster that said an Apple televison was coming for many years.
Loup Ventures analyst has told CNBC's "Trading Nation" that Apple shares could reach as high as $400 by the end of 2020.
But don't think that Munster has plucked that number out of thin air. It's apparently "based on two factors. One is the fundamentals and second is the multiples."
"If you look at Apple's valuation in the current earnings multiple, it's still low relative to other tech companies," said Munster. "If you apply a Facebook multiple to Apple stock, it's a $400 stock."
Munster appears to be pinning a lot of his $400 hopes on Apple's 2020 iPhone lineup, with the analyst of the belief that we will see five new models arrive this year. Including, yes, the infamous iPhone SE refresh....
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Analyst Gene Munster thinks AAPL could reach $400 per share in 2020
