Apple's announcement of a new augmented reality development platform called ARKit happens to be "a lightyear" ahead of competing products, Munster said during CNBC's "Fast Money" segment Monday. This bodes extremely well for Apple since AR is the operating system of the future with uses way beyond "Pokemon Go" and adding filters on pictures.
"This ARKit will allow developers to build rich AR experiences far beyond what we've experienced in AR today," Munster emphasized. "The demos that they have shown today I think really caught people's attention."
CNBC's "Fast Money" panel highlighted the fact that at the end of the day Apple is approximately an 80-percent hardware company and 20-percent services company. The problem for investors is the 80-percent component attracts a much lower stock multiple. Munster responded by noting his research found a 93-percent re-buy rate among iPhone users and investors are becoming more comfortable with a 0-to 5-percent growth rate from the hardware business over time. In the near term, Munster expects the stock to sell off heading into the new iPhone release, as has been the norm over the past few years. After all, "so many people have made a lot of money" as of late. After the iPhone release, Munster is expecting the stock to continue moving higher over the next year. Related Links:
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Image Credit: By Scott Schiller from San Francisco, CA, USA (WWDC 2015) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
Apple Is Still A Hardware Company
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