Apple’s future fundamentals are strong as the company has aggressively been working on expansion and revenue diversification strategies. In addition, the market analysts are expecting significant support for its share price amid the potential 5G iPhone launch in the coming days. Morgan Stanley also came up with a similar stance. The firm pointed two key catalysts for the share price gains. The upcoming new iPhone launch is the biggest catalysts while Apple’s increasing market share in China and Europe is the second major catalyst. Some analysts are also applauding Apple’s penetration in Indian markets. Last week, the world’s largest tech company has opened the first Apple store in India. The company has produced a few iPhone models in India in the past few years. On the other hand, Apple’s revenue diversification strategy has been helping in expanding the revenue base. Previously, Apple was only depending on iPhone revenues. However, it has generated a record $13 billion in services revenue in the latest quarter. Its Wearables, Home, and Accessories revenue came in at $6.5B. iPad and Mac revenue has also been increasing at a robust pace. The company’s strategy of new store opening is adding to its revenue growth trends. The tech company plans to open 500 stores this year. Apple stock price is currently trading around $119, down from an all-time high of $134. Despite the latest share price selloff, Apple stock is up 52% so far this year and shares grew 100% in the past twelve months.
