*By Carlo Versano* Gene Munster isn't worried about Apple. The managing partner of Loup Ventures and venture capitalist told Cheddar Tuesday that the tit-for-tat with Qualcomm ($QCOM) over iPhone sales in China is insignificant for Apple's ($AAPL) long-term value. The actual legal process of getting older iPhone models blocked from sale in China is difficult and long. "Our belief is that by the time that is sorted out, we'll be on to the iPhone 15 or 16," Munster said. Apple is in the midst of some stomach-turning, late-year stock volatility that started with its Nov. 1 earnings call. But to Munster, the waves of negative news ー from Qualcomm, to iPhone sales concerns, to the trade war ー make a compelling case to buy the stock on the dip. Munster's bullishness on Apple stems from his view that the company is in the midst of a transition into a reliable services provider. While the days of skyrocketing smartphone growth may be over ー [and not just for Apple](http://nymag.com/intelligencer/2018/12/global-u-s-growth-in-smartphone-growth-starts-to-decline.html) ー the iPhone's price point and its users' dependence on the Apple ecosystem will deliver steady revenue and earnings growth, in Munster's estimation. "As investors embrace this view of Apple-as-a-service ... the multiple should rise," he said. Additionally, investors benefit from Apple's historically huge stock buyback, which essentially manufactures higher earnings per share by taking shares off the market. "Every dollar that Apple spends buying back stock at these depressed levels has a more significant impact on earnings," Munster said. A strong buyback and stability in the iPhone, even without gangbusters growth, is enough to keep Apple a buy for Munster. He thinks the six- to 12-month outlook is strong. "This storm too shall pass," he said. For full interview [click here](https://cheddar.com/videos/loup-ventures-gene-munster-says-apples-storm-will-pass).

Share:
More In Business
Michigan Judge Sentences Walmart Shoplifters to Wash Parking Lot Cars
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
State Department Halts Plan to buy $400M of Armored Tesla Vehicles
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
Goodyear Blimp at 100: ‘Floating Piece of Americana’ Still Thriving
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
Is U.S. Restaurants’ Breakfast Boom Contributing to High Egg Prices?
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
Load More