(Bloomberg) -- Gene Munster, a 21-year veteran analyst at Piper Jaffray Cos., is leaving the firm to co-found a venture capital firm focusing on virtual reality and artificial intelligence.

Munster was known for his accuracy in predicting Apple Inc.’s financial potential. The company’s share price is almost 50 times greater now than when he first recommended the stock in June 2004. He’s ranked 11th out of 58 Apple analysts based on performance for the past year, according to data compiled by Bloomberg.

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