Apple Will Trade At $200 Per Share: Munster, Milunovich And Others Weigh In

UBS analyst Steven Milunovich said in a report Tuesday that Apple Inc. AAPL's stock has a path towards $200 per share over the coming years. His analysis was quickly supported by one of Apple's most notable experts, former Wall Street analyst turned venture capitalist Gene Munster.

Speaking as a guest on CNBC, Munster thinks $180 to $200 per share could happen. In the near-term, Apple's stock could be boosted by easier year-over-year comparisons after last year's "abominable" performance. He added that the iPhone 8 could be introduced less than 200 days from now and the hype is very real.

These two factors alone give investors a "golden opportunity" and "clear sailing" for at least a few more quarters. However, he did suggest investors may find it beneficial to "trade it off" once the iPhone 8 is announced.

Beyond the iPhone 8 launch, Munster stated Apple's stock will be further supported by an expected dividend increase and a tax holiday. These factors could help support Apple's 14x multiple and help it "inch higher."

The Charts

Ari Wald, Oppenheimer's technical analyst, didn't offer a $200 per share outlook based on Apple's stock chart; rather, he stated technical analysis supports a $180 price target. Specifically, the stock handily broke above its 2015 peak of $135, which suggests there is "new demand for the shares."

Wald explained that Apple's stock was trading in a prior range of $90 to $135 and the new move higher will be equal to the size of the prior range. In other words, the stock was in a $45 trading range so the chart suggests Apple's stock can move $45 above $135, which translates to a target of $180.

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