Apple will be one of the top two performing ‘Mag 7s’ over the next year – Gene Munster

In a recent discussion on CNBC’s Fast Money, Deepwater Asset Management’s Gene Munster made a bold prediction: Apple will rank among the top two performers of the “Magnificent Seven” tech giants over the next 12 months. This forecast underscores Apple’s robust positioning in the rapidly evolving tech landscape, particularly in artificial intelligence (AI) and consumer hardware.
Munster highlighted Apple’s strategic advancements in generative AI as a key driver. Unlike competitors, Apple is integrating AI directly into its ecosystem, enhancing user experiences across its iPhone, iPad, and Mac product lines. The upcoming iPhone 17 family, expected to launch in September 2025, will feature Apple Intelligence, a suite of AI tools designed to boost functionality, currently rolling out slowly. Munster emphasized that these features could spark a significant iPhone upgrade cycle, with 20% of Apple’s user base — roughly 300 million devices — potentially upgrading within the next year. This cycle, he argues, will propel Apple’s stock performance, potentially outpacing rivals like Nvidia, which he also sees as a top contender due to its AI chip dominance.
Beyond AI, Apple’s financial resilience bolsters Munster’s optimism. The company’s consistent revenue growth, driven by its services segment and wearables, provides a stable foundation. Despite a high valuation, Munster believes Apple’s stock, trading at around 35 times forward earnings, is justified given its product and services pipeline and loyal, growing customer base. He also noted Apple’s ability to navigate macroeconomic challenges, such as inflation, better than most peers.
However, Munster acknowledged risks, including potential consumer spending slowdowns and competition in AI. Still, he remains confident that Apple’s blend of hardware excellence and AI integration will drive outsized returns, positioning it as a leader among the Mag 7 through mid-2026.
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