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Apple Inc (NASDAQ:AAPL) and Tesla Inc (NASDAQ:TSLA) are two of the best-positioned stocks right now, Loup Ventures' Gene Munster said Monday on CNBC's "Squawk Box."
Apple's revenue from its iPhone, iPad and Mac products has a multi-year tailwind as a result of the shift to work-from-anywhere, Munster said. The recent concerns around the COVID-19 Delta variant reinforce the work-from-anywhere trend, he added.
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The transition to 5G will also prove to be a multi-year catalyst for Apple, Munster said. "Less than 5% of the globe is on 5G. That's going to go to 50% plus."
Munster told CNBC that he expects the Apple event in September to be a near-term catalyst for the stock. "I think when you put all of this together, this is a $200 plus stock in the next couple of years."
Munster said that Tesla's two-year growth rates outperform most companies in the big tech space.
Tesla is the only big tech company to have seen "a remarkable acceleration" of its two-year growth rate, he said, adding that the company went from 20% growth in 2019 to 40% growth in 2021.
Munster expects Tesla's upcoming Artificial Intelligence day event to be a near-term catalyst for the stock. Tesla's AI day is set to take place on Aug. 19.
Related Link: Ark Sells $43.7M In Tesla While Cathie Wood Likens Elon Musk Company To Apple
Price Action: At last check Monday, Apple was up 0.75% at $145.97 and Tesla was up 5.56% at $724.43.
Photos: Courtesy Apple and Tesla.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.