Apple and Tesla just split.
And both are already ticking higher.
Apple just split 4:1 to $125, and is now up to $127.81, and could easily run back to $150 this week, in our opinion. Better, Apple could soon become a $3 trillion company.
According to Wedbush analysts, “By 2023, we believe given super-cycle potential and services business,” Ives said. “While the soft macro and COVID backdrop are weighing on near-term consumer demand trends, Apple has a ‘once in a decade’ opportunity over the next 12 to 18 months as we estimate roughly 350 million of Cupertino’s 950 million iPhones worldwide are in the window of an upgrade opportunity.”
Apple earnings are likely to stay strong, too.
In its most recent quarter, Apple posted EPS of $2.58, which was better than estimates for $2.04. Revenue of $59.69 billion beat estimates for $52.25 billion. iPhone revenue soared to $26.42 billion, as compared to estimates for $22.37 billion. Services revenue jumped to $13.16 billion, as compared to expectations for $13.18 billion.
Tesla Split 5:1 to $444.88
Tesla split, and is already up $16 a share to $458.65. We wouldn’t be shocked to see TSLA closer to $500 this week with big momentum behind it. With this stock, we wouldn’t even be shocked if it ran back to $1,000 by September 2020 on the EV boom.
According to a new study from the Boston Consulting Group, by 2025, EVs could account for a third of all auto sales. By 2030, EVs could surpass internal combustion engine vehicles with a market share of 51%.
Plus, experts say by 2030, electric cars will make up 58% of the light vehicle market.
And, according to analysts at Wedbush, “We continue to believe [electric vehicle] demand in China is starting to accelerate in July/August with Tesla competing with a number of domestic and international competitors for market share with Giga 3 remaining the linchpin of success which remains the prize that [Chief Executive Elon] Musk and Tesla are laser focused on capturing.”
It’s tough to ignore these powerhouse stocks, post-split.
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