Apple bull Gene Munster: Apple stock will reach $350 in three years [CNBC]
Apple Inc. (AAPL)
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Source: CNBC
show chapters Apple bull Gene Munster told CNBC on Wednesday if you look through the noise about the company's decision to ax unit sales from future earnings reports, investors will see that the iPhone-maker's stock will reach $350 in three years. That's more than double Apple's current share price of $169.10 and a moonshot from its initial offering of $22 on this date 38 years ago . Munster upgraded Apple to a buy when the stock was just $4 in October of 2004. It's another trillion dollars to market cap on top of its current $802.4 billion market cap, the Loup Ventures founder said confidently on Fast Money. Apple will stop reporting individual unit sales in future earnings reports as part of its efforts to build a brand as a services company, but Munster thinks investors have yet to fully grasp that concept. He believes, however, that they will progressively understand that it's not necessary to sweat every quarter and can depend on earni
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