“I think we still have a lot of momentum left on this stock,” Money Morning Defense & Tech Specialist Michael A. Robinson said on FOX Business in March. “I have a $142.85 target on this for Labor Day 2016.”
Money Morning Chief Investment Strategist Keith Fitz-Gerald has an even higher price target for this blue-chip stock. He sees it climbing to $200 in the next two years. That would be a gain of 59.4% from today’s opening price of $125.46.
The reason our experts are so bullish on AAPL is the company’s tech “ecosystem.” This isn’t just a computer and mobile phone company. The company has recently unveiled Apple Music, the Apple Watch, Apple TV, and the payment service Apply Pay.
“It’s the best tech ecosystem on the consumer level in the world today,” Robinson said. “Really, nothing comes close.”
“Apple has a huge addressable market that’s not yet been tapped and not yet been recognized by the broader stock market,” Fitz-Gerald said. “That’s what investors ought to be keying in on.”
Apple has some of the highest margins in the industry, with an operating margin of 30.2%.
In the upcoming quarter, AAPL is expected to post revenue of $48.58 billion. That would be a year-over-year increase of almost 30%.
The company has a market cap of $722 billion. If AAPL hits Fitz-Gerald’s price target, it will be the world’s first $1 trillion company.
“They are such a juggernaut,” Money Morning Technical Trading Strategist D.R. Barton said in February. “If you’re a money manager and you don’t have Apple in your portfolio, it’s basically financial suicide.”
Apple also pays a modest dividend of 1.7%.
The Bottom Line: With the markets as volatile as they have been in 2015, we recommend investing in blue-chip stocks. They will protect your investing capital, while providing plenty of upside. The top blue-chip stock to buy today is Apple stock. It’s one of the best performers of 2015 and is well on its way to becoming the world’s first $1 trillion company.
We’re in the midst of the greatest investing boom in almost 60 years. And rest assured – this boom is not about to end anytime soon. You see, the flattening of the world continues to spawn new markets worth trillions of dollars;new customers that measure in the billions; an insatiable global demand for basic resources that’s growing exponentially; and a technological revolution even in the most distant markets on the planet. And Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. In fact, we believe this is where the only real fortunes will be made in the months and years to come.