Stimulus spending is bullish.
At the shareholder meeting, Apple CEO Tim Cook opted not to speculate on the impact stimulus payments could have on Apple‘s business. Munster says there’s no doubt the stimulus payments will have at least a “small benefit” for Apple‘s business in 2021. However, he says that benefit is likely already reflected in the aggressive growth targets analysts have for Apple this year, including 21% year-over-year sales growth. The temptation to upgrade to the latest iPhone ranging in price from $700 to $1,400 may be too much for many Americans after they receive their $1,400 stimulus payments.