Apple‘s revenue from its iPhone, iPad and Mac products has a multi-year tailwind as a result of the shift to work-from-anywhere, Munster said. The recent concerns around the COVID-19 Delta variant reinforce the work-from-anywhere trend, he added.
The transition to 5G will also prove to be a multi-year catalyst for Apple, Munster said. “Less than 5% of the globe is on 5G. That’s going to go to 50% plus.”
Munster told CNBC that he expects the Apple event in September to be a near-term catalyst for the stock. “I think when you put all of this together, this is a $200 plus stock in the next couple of years.”
Munster said that Tesla‘s two-year growth rates outperform most companies in the big tech space.
Tesla is the only big tech company to have seen “a remarkable acceleration” of its two-year growth rate, he said, adding that the company went from 20% growth in 2019 to 40% growth in 2021.
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