Back in 2015, Money Morning Defense and Tech Specialist Michael Robinson was the first tech analyst we know of to predict Apple Inc. (Nasdaq: AAPL) would reach a market cap of $1 trillion.
And now is the perfect time to own shares of AAPL stock before it reaches $1 trillion…
Of course, there are other stocks we like in the race: Microsoft Corp. (Nasdaq: MSFT) has a market cap of $783 billion, Alphabet Inc. (Nasdaq: GOOGL) has a market cap of $812 billion, and Amazon.com Inc. (Nasdaq: AMZN) has a market cap of $855 billion.
But CEO Tim Cook’s company is clearly ahead.
“As much as I like Microsoft, you’d be crazy to bet against Apple in a case like this,” Robinson said on June 8.
Now, he still thinks these are two great companies to own.
But there’s one big reason you want AAPL in your portfolio right now…
Why You Need to Own AAPL Stock
Robinson issued a very bold Apple price prediction on Jan. 26, stating AAPL will reach $250 in 2.5 years:
“Many on Wall Street doubted my new forecast, saying the iDevice King was suffering from a smartphone sales hangover. But my $250 price prediction took into account that the company is moving quickly to improve sales of services like Apple Music and away from its dependence on devices. And Apple really delivered when it announced second-quarter 2018 earnings on May 1. Yes, smartphone sales volume slipped a bit, but the company more than made up for that with sales of the higher-margin iPhone X.”
From [yesterday’s] opening price of $188.50, Robinson’s prediction shows a gain of 32.62%.
On top of that potential profit opportunity, Apple also rewards its shareholders with a dividend of $2.2 (1.57%) yield.
And this is just the start of how much money there is to be made off Apple…
You see, when retail investors hear about Apple potentially becoming the first company with a $1 trillion market cap, they are going to flock to the stock. They will call their brokers, asking why they don’t own more shares of the biggest company in the world.
If Robinson’s Apple stock price prediction hits earlier than expected, that doesn’t mean Apple will stop climbing at $250 per share.
This is a legacy stock, one that you want to hold forever.
And even though Apple is trading at all-time highs now, there’s still plenty of room for double-digit profits ahead.
— Jack Delaney
Source: Money Morning