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Needham analyst Laura Martin believes lifetime value (LTV) is the primary driver of upside value for Apple Inc (NASDAQ: AAPL) and that brand value is a leading indicator of LTV in a note titled "AAPL's Brand is Worth $1 Trillion."
The latest two brand value studies show that Apple's brand is #1 and improving faster than many other consumer brands. The studies included Kantar's BrandZ's "Most Valuable Global Brands 2022" study and The 2022 Prophet Brand Relevance Index.
Martin believes that AAPL's rising brand value leads to falling customer acquisition costs, churn levels, and increasing pricing power. Each adds to AAPL's LTV, convincing Martin to buy AAPL.
Martin maintained Apple with a Buy rating and a price target of $170.
Price Action: AAPL shares traded higher by 1.10% at $131.49 on the last check Friday.
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