Weekly News

Apple is still 'the most underappreciated stock in the world,' analyst says

August 10,2018 20:21

Apple may have hit a trillion-dollar market cap last week, but one analyst told CNBC he still sees a big buying opportunity in "value stocks" Apple, Facebook and Google parent company Alphabet. "Apple is still, I think, the most underappreciated stock ...



Cybersecurity
Enterprise
Internet
Media
Mobile
Social Media
Venture Capital
Tech Guide

show chapters

Apple may have hit a trillion-dollar market cap last week, but one analyst told CNBC he still sees a big buying opportunity in "value stocks" Apple, Facebook and Google parent company Alphabet.
"Apple is still, I think, the most underappreciated stock in the world," Monness, Crespi, Hardt analyst Brian White said Friday on CNBC's "Squawk Alley."
Apple became the first publicly traded U.S. company to hit a market capitalization of $1 trillion in early August and has since hung onto its gains. White, who has long been one of Apple's biggest bulls, put a $275 price target on Apple, which on Friday was trading around $208 per share.
But weeks prior, "macro headlines" and earnings misses from big technology companieswere rocking the technology sector. After missing on earnings and several key metrics, Facebook plunged 24 percent and lost $130 billion in market capitalization, which pulled down the technology sector.
"When you see news flow like this, I tend to think it comes and it goes and generally presents a buying opportunity," White said.
Meanwhile, mid-cap technology stocks — such as Etsy, Stitch Fix, Roku and Yelp — have outperformed lately, after most experienced a sell-off in early 2018. MKM Partners senior internet analyst Rob Sanderson said smaller-cap names "tend to move up and down a lot" and the gains shouldn't be taken as a sign that bigger technology companies are losing steam.
"This is the biggest secular shift that's occurred in our lifetimes. Business models are being redefined up and down the board, because of the influence of technology, particularly internet and mobile technologies," Sanderson said Friday on CNBC's "Squawk Alley."
"The idea that the giants take everything, I think, is overplayed," he added.
Some of Sanderson's smaller-cap favorites are Yelp and ANGI Homeservices.

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

Technology,Brian White,Entertainment,Stock markets,Markets,ANGI Homeservices Inc,Yelp Inc,Roku Inc,Stitch Fix Inc,Etsy Inc,Alphabet Class A,Facebook,Apple Inc,Stocks,Squawk Alley,business news

Share this article

Related videos

Apple is the most underappreciated stock in the world: Brian White
Apple is the most underappreciated stock in the...
iPhone sales boost Apple third-quarter results above forecasts | In The News
iPhone sales boost Apple third-quarter results ...

DON'T MISS THIS STORIES