Nasdaq AAPL Apple

Big tech stocks have witnessed a fair amount of selling over the past month. Valuation concerns and uncertainty regarding the COVID-19 pandemic led to a selloff in tech stocks. The chart below shows that big tech companies are trading in the red, while Apple (NASDAQ:AAPL) and Meta Platform (NASDAQ:FB) barely managed to stay in the green over the past month. 

With tech stocks currently under pressure, let’s look at each of these tech giants to ascertain what the future holds for them in 2022.

Apple 

Despite supply-chain concerns, Apple delivered a solid financial performance in FY21. Strong sales across all product categories and strength across all of its geographies drove Apple’s financials, and in turn, its stock, which outperformed the benchmark index in 2021. 

Looking ahead, demand for Apple products is likely to outpace supply, as noted by Wedbush analyst Daniel Ives. The analyst is bullish on Apple stock. He sees higher demand and the easing of supply-chain issues in the first half of 2022 as a tailwind for Apple stock. Moreover, Ives noted that higher average selling prices provide a multi-year growth opportunity. 

Besides robust demand and higher selling prices, Ives expects Apple to gain from its growing market share in China. 

Overall, the majority of analysts are bullish on Apple stock. Its Strong Buy consensus rating is based on 21 Buys, 3 Holds, and 1 Sell. However, hedge funds have been selling Apple stock. TipRanks’ Hedge Fund Trading Activity tool shows that hedge funds have sold 4 million Apple shares over the past three months. 

Amazon 

Tough comparisons, cost inflation, and supply-chain disruptions weighed on Amazon’s (NASDAQ:AMZN) financial performance in 2021, and in turn, its stock price. Amazon stock underperformed the Nasdaq 100 Index by a wide margin in 2021. 

Given the near-term challenges, investors and hedge funds have a negative outlook on Amazon stock. TipRanks’ Stock Investors tool shows that about 1.3% of investors holding portfolios on TipRanks have sold AMZN stock in the last 30 days. Meanwhile, hedge funds have lowered their holdings by 576.2K shares in three months. 

Nevertheless, Monness analyst Brian White is bullish on Amazon for 2022. He expects Amazon’s growth to accelerate in the 2H22. Further, White noted that AWS’ (Amazon Web Services) revenue growth has accelerated over the past three quarters, while Amazon is well-positioned to benefit from an “accelerated digital transformation.” 

Along with White, most Wall Street analysts maintain a bullish outlook on Amazon stock. AMZN has received 30 positive analyst reviews for a unanimous Strong Buy consensus rating. 

Alphabet

Alphabet (NASDAQ:GOOGL) stock delivered strong returns in 2021 and outperformed its peers, thanks to the stellar recovery in ad sales and the strength of its cloud business. 

Looking ahead, Alphabet could benefit from higher advertising revenues and growth in the cloud segment. Further, its balance sheet and cash flows remain strong. 

Taking note of its strong cash flows, Ivan Feinseth of Tigress Financial stated that Alphabet would continue to boost shareholders’ returns through share buybacks and fund its growth initiatives on the back of its robust cash flows. 

Feinseth sees Alphabet benefiting from secular tech trends, including video sharing, cloud computing, growing mobile engagement, and the ongoing shift to digital advertising, among others. 

On TipRanks, Alphabet stock sports a Strong Buy consensus rating based on 26 Buy and 2 Hold recommendations. Furthermore, 1.9% of the investors holding portfolios on TipRanks have increased their exposure to GOOGL stock over the last 30 days. 

Microsoft 

Thanks to the strength in its cloud business, Microsoft (NASDAQ:MSFT) stock increased over 49% in one year and outperformed the benchmark index. Despite the appreciation in its share price, Jefferies analyst Brent Thill is upbeat about Microsoft’s prospects and maintains a bullish outlook on the stock. Thill increased his price target on Microsoft to $400 from $375. 

Thill sees Microsoft as the “safest largecap investment option” with multiple growth vectors. The analyst expects Microsoft to continue to enhance shareholder value on the back of its strong profitability and free cash flows. However, he expects Microsoft’s top-line growth to moderate a bit in the coming quarters. 

Overall, on TipRanks, Microsoft stock has received 24 Buys and 1 Hold for a Strong Buy consensus rating. Furthermore, it scores a 9 out of 10 on TipRanks’ Smart Score system, indicating that MSFT stock could outperform the market averages.

Meta Platforms 

Facebook changed its name to Meta Platforms to better reflect a metaverse company. However, investors and hedge funds continue to dump their stock. 

TipRanks’ Stock Investors tool shows that about 0.7% of investors holding portfolios on TipRanks have sold FB stock in the last 30 days. Meanwhile, TipRanks’ Hedge Fund Trading Activity tool shows that hedge funds have sold 1.7 million Meta Platforms shares over the past three months. 

Monness analyst Brian White noted, “The longer-term journey for Facebook became more intriguing in the later part of 2021 with the company introducing its vision for the metaverse, followed by a name change to Meta Platforms.” 

However, he expects Apple’s app tracking transparency to continue to hurt Meta Platforms in the future. 

Nevertheless, he maintains a Buy rating on Meta Platforms and expects it to benefit from favorable digital ad trends and digital transformation opportunities. Meanwhile, on TipRanks, FB stock has a Strong Buy consensus rating based on 28 Buys and 5 Holds. 

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Disclosure: On the date of publication, Amit Singh had no position in any of the companies discussed in this article.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates  Read full disclaimer >

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Everything is in the eye of the beholder and looking at the current outlook for Apple (AAPL), the conversation on Wall Street has revolved around the supply chain issues, and how they affected sales in the holiday quarter. That’s one way to look at it, but Wedbush’s Daniel Ives says there’s a more constructive story taking place, one where “robust consumer demand” is driving the narrative for the iPhone 13 heading into 2022.

“Based on our supply chain checks over the last few weeks,” said the 5-star analyst, “We believe demand is outstripping supply for Apple by roughly 12 million units in the December quarter which now will add to the tailwinds for Apple in the March and June quarters as the supply chain issues ease in 1H22.”

Despite the chip shortage headwinds, going by Ives’ checks, Apple sold more than 40 million iPhones during the holiday season, amounting to a record number of sales. One “major source of strength” deserving of credit here is China, where over the last 12 months the analyst estimates Apple’s market share in this “key region” has increased by roughly 250 bps.

In what Ives terms a “multi-year supercycle” for the iPhone 12/13, the supply chain issues are “nothing more than a speed bump,” with 230 million of the 975 million iPhones across the globe still due an upgrade after not changing handsets in 3.5 years.

However, Apple is much more than just hardware sales. With a $3 trillion market cap in its sights, the “linchpin to Apple's valuation re-rating” is its Services business, which is “further monetizing the Apple golden installed base and poised to reach $100 billion + annual revenue by 2024.” Ives thinks the Street values it at around half of that $3 trillion market cap - at $1.5 trillion.

There’s also the “highly anticipated” launch of the AR headset Apple Glasses, expected in the second half of the year, which should play into the metaverse narrative, while further down the line – by 2025 - the Apple Car could also make its debut, adding further value to the ever-expanding Apple story.

So, down to business, what does it all mean for investors? Ives maintained an Outperform (i.e., Buy) rating along with a $200 price target, suggesting the stock has room for upside of 16% over the next 12 months. (To watch Ives’ track record, click here)

Looking at the consensus breakdown, AAPL stock’s Strong Buy consensus rating is based on 21 buys, 4 Holds and 1 lone Sell. However, going by the $175.28 average target, most expect the shares to be trading around the same price a year for now. (See Apple stock analysis on TipRanks)

To find good ideas for tech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.