This Wall Street Strategist Predicted Apple's Ascent to $3 Trillion -- Now He Says 2 Artificial Intelligence (AI) Growth Stocks Will Win the Robotaxi Race
Wall Street strategist Gene Munster first recommended (NASDAQ: AAPL) stock in June 2004, when it traded at a split-adjusted $0.50 per share. Investors who took that advice have made a lot of money. The stock has since returned 41,710%, meaning an initial investment of $2,500 would be worth $1 million today.
But there is a more interesting story here: After first recommending Apple, Munster made a number of prescient predictions. For instance, he became the first analyst to posit Apple as a $1 trillion company in 2012, a forecast that came to fruition in 2018. He then correctly called Apple's ascent to $2 trillion in 2020, and shortly thereafter, he upped his target to $3 trillion, a prediction that came to pass in 2023.
Suffice it to say Munster has a knack for remarkably good guesswork, and that makes his latest insight quite intriguing. He recently told CNBC that self-driving cars are inevitable. Munster admitted the technology is not quite there yet, but he said Tesla (NASDAQ: TSLA) and Waymo, a subsidiary of Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG), are the two companies best positioned to win the robotaxi race.
Source Fool.com
Apple Inc. Stock
Currently there is a rather positive sentiment for Apple Inc. with 146 Buy predictions and 17 Sell predictions.
With a target price of 228 € there is a slightly positive potential of 9.2% for Apple Inc. compared to the current price of 208.8 €.
