Apple Inc., GoPro Inc Products Are Go-To Gifts: Analyst

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Apple Inc., GoPro Inc Products Are Go-To Gifts: Analyst

One of Apple Inc. (NASDAQ:AAPL)’s and GoPro Inc (NASDAQ:GPRO)’s biggest bulls thinks this year’s holiday shopping season is shaping up to be huge for the two companies. JMP Securities analyst Alex Gauna has some whopping price targets on both of the companies as they sprint toward the end of the holiday quarter.

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“Running hard” toward GoPro

Gauna has an Outperform rating and $100 per share price target on GoPro. He said on NBC News’ Halftime Report that he thinks investors should be “running hard” toward the digital camera maker right now and that it is enjoying a “holiday sales season that’s absolutely on fire.”

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The analyst thinks even after the holiday shopping season is over, GoPro is still going to be blossoming as it pushes into international markets and unveils its cloud strategy next year. Gauna calls GoPro a “new media story” and said he thinks there are plenty of ways the camera maker can monetize its services.

He added that they’ve been running a lot of checks on GoPro’s progress during the holiday shopping quarter and spending time with company management. He said GoPro’s chief financial officer is “pumped up” and “supremely confident in his near term results.”

“I think GoPro, in addition to Apple iPhones, they are the go-to electronics this holiday season,” Gauna told NBC News. “And I think that’s what’s going to push the quarter forward and also recognizing that GoPro recognizes sales on a sell-in perspective, so I think that also helps them.”

Has Apple hit the ceiling?

Gauna is also very bullish on Apple during the current quarter, and he has a $150 per share price target on the company’s stock. He cites strong demand for the iPhone 6, favorable indicators from China, the resurgence of the iPad and the potential he sees for Apple to transform the wearable device market.

“The stock has been a tremendous outperformer this year but I think it’s warranted. You’re seeing sales growth accelerate for Apple they are the product this holiday season in addition to the GoPro cameras.” the analyst said in the interview. “The wind is at Apple’s back from a product cycle perspective,” Gauna added. “The competition, namely Samsung, is losing share right now, so I think it’s Apple’s game.”

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Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@valuewalk.com.
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