Apple (AAPL) Wins the $1 Trillion Race; Top Analyst Cheers

If you’re holding your breath for Apple (NASDAQ:AAPL) to break $1 trillion, then we’ve got some good news for you. The tech giant achieved that big number today when the stock passed $207.04 a share.

Monness’ top analyst Brian White believes that $1 trillion is just the beginning, reiterating a Buy rating on AAPL, with a price target of $275, which implies an upside of 32% from current levels.

White noted, “We were the first analyst on Wall Street with an Apple price target that reflected a $1 trillion market capitalization and our current $275 price target reflects a market cap of $1.3 trillion. Despite today’s significant accomplishment, we continue to believe Apple remains one of the most underappreciated stocks in the world with a valuation that remains depressed (13.6x our CY:19 EPS estimate, ex-cash). Now, Apple is heading into the seasonally strongest time of the year with a new iPhone cycle on the horizon.”

“In our view, Apple is in the early stages of being revalued by the market and we believe those that continue to view the company through the lens of simply being a smartphone company will miss out on new growth opportunities. Apple’s strong software capabilities, expanding services business and unique digital ecosystem at large are just starting to be better appreciated by investors,”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Brian White has a yearly average return of 15.8% and a 65.5% success rate. White has a 19.3% average return when recommending AAPL, and is ranked #129 out of 4839 analysts.

Net net, TipRanks showcases AAPL as one that has drawn optimism mixed with caution when it comes to consensus opinion among sell-side analysts. Out of 28 analysts polled in the last 3 months, 16 are bullish on Apple stock, while 12 remain sidelined. With a slight return potential, the stock’s consensus target price stands at $212.81.


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