Apple Secures $ 200 Bull Case Target From Wedbush On Strongest Product Cycle Since 2014

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Apple Inc (NASDAQ: AAPL) is experiencing an iPhone 12 “supercycle” and is seeing “major tailwinds,” unheard of since 2014, which could propel the tech giant’s stock to $ 200, according to Wedbush Securities.

Apple analyst Wedbush analyst Daniel Ives maintained the outperformance rating of the company led by Tim Cook and raised its 12-month price target for the stock to $ 160 from $ 150. Ives increased the bullish case price target from a previous $ 175 to $ 200.

The Apple thesis: The Wedbush analyst said their recent checks lead them to be optimistic about demand for the iPhone 12 in China and the United States.

In the United States, the 6.1-inch model of the iPhone 12 was “the star of the show” before the holidays, according to Ives. The Pro Max model is attracting “very strong demand” in the United States as fiscal year 21 approaches.

Pent-up demand in China is boosting sales of the latest iPhone 12 5G, which Ives called “the strongest product cycle for Cook & Co. to date since the iPhone 6 in 2014″.

The Wedbush analyst continues to believe the supply chain is forecasting 80 million iPhone 12s for the initial launch period with a potential target until the mid-1980s.

Ives estimates that there are 350 million out of 950 million iPhones worldwide that are in the window of an upgrade opportunity, which can translate into an “unprecedented upgrade cycle” for the iPhone. tech giant based in Cupertino, Calif., with the holiday season on the horizon.

The expert estimates that if Street projected 215 million iPhone units for FY21, Apple could sell more than 240 million units, which would surpass the previous record of 231 million iPhone 6 units sold in 2015.

China is said to be the key to Apple’s success, and the analyst estimates the country contributes 20% of total iPhone upgrades.

Action on apple prices: Apple shares closed up nearly 0.5% at $ 124.38 on Tuesday.

Final ratings for AAPL

Dec 2020

Wedbush

Maintains

Surpass

november 2020

Loop capital

Upgrades

Socket

To buy

october 2020

Raymond James

Maintains

Surpass

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