Apple 2017: Exceeding Expectations

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Summary:

  • Market prices imply no future growth and Apple looks attractive on a relative and standalone basis.
  • Even if iPhone sales have peaked there are several business and macro tailwinds for 2017.
  • Forecast for 2017: net sales of $228.6 billion and EBITDA of $74.5 billion.
  • Fair value estimate: $133. Rating: Buy.

Disclosure: As of 2016/12/01 Turtle Street Capital has no positions in any stocks mentioned. Please read our full disclaimer at http://turtlestreetcapital.com/welcome/.

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