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Awaiting Tim Cook’s ‘One More Thing’ Moment By TipRanks


© Reuters. Apple: Awaiting Tim Cook’s ‘One More Thing’ Moment

For Apple (NASDAQ:) lately, it’s been all about the iPhone 13. Shares could continue to rise as the new fully-spec’d device will be very popular.

Although the iPhone is still the largest mover of Apple stock, analysts praise Apple’s big services efforts. Services are gaining more of Apple’s pie each year.

Apple, a company that has been creating new innovative products for decades, is undoubtedly a leader in the market. (See AAPL stock charts on TipRanks)

I remain extremely bullish on the stock, because of the company’s track record of delighting its fans and shareholders with incredible new products that they never saw coming.

Apple is more than a company focused on the iPhone 5, the supercycle of 5G and continued growth in wearables. It’s also a strong services provider that delivers value to Apple users.

While Apple’s hardware may be expensive, its services — especially the Apple One bundle — offer a hefty value proposition. Apple seems to be fulfilling Tim Cook’s vision of improving the lives of its customers through innovative hardware and software as well as affordable services.

It can prove difficult for competitors in the services market, such as Spotify (NYSE:), and Netflix (NASDAQ:), which may be able to match this.

Tim Cook: One more thing?

Apple is clearly failing to deliver on its promise of “one more thing” with the latest keynotes. While the keynotes were filled with amazing software innovations and interesting hardware upgrades, it is past time for Apple to release a breakthrough product.

The product doesn’t need to be as big as the iPhone. This could be an innovative new product on the same scale as the original Apple Watch. It had a slow initial reception but gained significant traction through subsequent releases.

Apple CEO Tim Cook has delivered great results as Apple’s top boss. Although he acknowledged to interviewers that it was unlikely that he would be Apple’s CEO in 10 years, Cook said that he is keen to launch another “big product” as his company’s chief executive.

It’s not clear what type of product he will be launching. There are many rumors about an Apple Car, VR/AR headset or Apple Glasses.

These three products could all be available in the coming decade. Which one will Cook be launching?

According to Ming-Chi Kuo, top Apple analyst, rumours point towards a headset. However, an Apple Car may be years off.

Investors would do well to keep the faith, because Cook is continuing to provide shareholder value.

Apple stock is the most expensive in the range of valuations. It’s evident that investors get a lot for their money with the growing services mix and continued adoption of Apple’s iPhone.

Wall Street’s Take

According to TipRanks’ analyst rating consensus, AAPL stock comes in as a Strong Buy. From 24 analyst ratings there are eighteen Buy recommendations and six Hold suggestions.

The average AAPL price target is $168.29. The price targets of analysts range from $140 to $185 per shares.

Disclosure: Joey Frenette held shares in Apple at publication.

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