Investors aren't appreciating just how well Apple will do in the coming years, says Loup Ventures' Gene Munster.
had improved over the previous quarter. That is a part of Munster's bullish thesis, as are the stock buybacks the company announced on Tuesday.
Apple said that it would spend $75 billion on share repurchases and it also approved a 75 cent dividend per share, a 5% increase.. " He calculates the buybacks could boost the stock by 25% over the next five years."Investors are largely underappreciating what this stock could do," said Munster. "This story could be a $350 stock over the next couple years, and I think they are going to surprise people on this earnings power."
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