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Bloomberg
Move over, Netflix: Apple Inc will be the best performing FAANG stock in 2019, according to veteran analyst Gene Munster. Apple will be rewarded in the coming year as investors focus more on revenue and earnings growth rather than iPhone unit sales, said Loup Ventures’ Munster, who has covered the company for more than a decade. The Cupertino, California-based company will also benefit from excitement about a network upgrade in the US that could occur as soon as 2020.
With two days to go in 2018, Apple is the second-worst performer in the group of large-cap internet and technology stocks. It’s been a year that saw the iPhone maker become the first to reach a $1 trillion market capitalisation and then lose its crown as the world’s most valuable company to Microsoft Corp. Apple’s 7 percent decline trailed Facebook, whose stock has fallen 24 percent amid a slew of controversies.