Will Apple ever reach $1,000/share? Gene Munster stands by a 12-month price target of $390 for Apple and tells us that “Apple is in the best position of any technology company” for the next decade.
But what’s standing in the way of Apple?
“Google’s probably the main competitor that we’re most concerned about,” Munster says. “But at the end of the day – if they keep innovating, the stock is going higher. If the innovation slows, it’s going down.”
Gene Munster is a Senior Research Analyst at Piper Jaffray (Disclosures).
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