Next logical step for Apple is the metaverse - Loup Ventures' Gene Munster
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With Apple (NASDAQ:AAPL) becoming the first U.S. company in history to reach the $3T level in market cap, Loup Ventures analyst Gene Munster said Monday that the metaverse represents the next logical step for the iconic iPhone maker.

"For me, it's less about Apple hitting $3T. It's more about what's the next stop," the Loup Ventures founder and managing partner told CNBC. "Ultimately, I believe this company's best days could be ahead."
Munster thinks AAPL could reach $250, a price that would equate to a $3.8T market cap. This would represent a rally of about 37% from Monday's closing price.
The Loup Ventures analyst predicted that an aggressive move into the metaverse would prompt a further expansion in AAPL's earnings multiple, as investors take into account the growing size of its potential market.
He predicted that AAPL will capture the metaverse opportunity through augmented reality features on its phones, as well as the release of AR/VR glasses. Munster predicts the firm will preview these products in 2022 with a commercial release likely in 2023.
"It's all about the metaverse," he noted.
Given his focus on the metaverse, Munster pointed to Meta (NASDAQ:FB) as another potential megacap winner.
Munster said the biggest risk to his prediction would be that multiples don't expand as he expects, with investors taking a more wait-and-see attitude towards metaverse plays.
AAPL rose 2.5% on Monday to close at $182.01. During the session, shares hit a fresh intraday all-time high of $182.88.
The stock briefly edged above $3T in market cap when it hit $182.86. A slight moderation before the close left the stock fractionally below the $3T mark at the end of the session.
For a look at how AAPL's value stacks up with the other megacaps, see this chart.