Apple’s iPhone 12 sales exceed Wedbush’s ‘bull case scenario’ which is expected to increase inventory

The sales of Apple Inc. iPhone 12 has exceeded Wedbush’s bull case scenario ‘for fiscal 2021, based on supply controls in Asia, and should increase equities with December results soon, writes analyst Dan Ives on Thursday. “We believe Apple has not only seen a robust Christmas / holiday season on iPhones, but also had a strong AirPods performance that will be another product headwind in 2021 for Cook & Co,” Ives wrote. Asia checks indicate that the supply chain will expect low to mid-90 million iPhone units for the quarter, comfortably ahead of the 80- to mid-80 series expected in mid-December, 75 million in late October and 65 million to 70 million expected. months ago he wrote. “This is about a 35% increase compared to our original and street forecasts. For the March quarter, we believe that the total number of iPhones is 5% higher again last week and is now in the range of 60 to 70 million. For the June quarter, we believe that the initial build-up is in the low 40 million range, with a possible upward bias, we have seen a rising trend like this for a number of years for Apple and would be the only similar iPhone track the iPhone 6 in 2014, based on our analysis, “Ives said. The Wall Street consensus is for 217 million iPhone sales in fiscal 2021, but Wedbush sees potential for up to 240 million units,” which is the previous Apple record. “of 231 million units in FY15 would be easily obscured. It’s important, with our estimate that 350 million of 950 million iPhones worldwide are in the window of an upgrade opportunity, we believe this will mean an unprecedented upgrade cycle for Cook & Co.,” said Ives. Wedbush rates Apple as better than a price target of $ 160 for 12 months and a bull case target of $ 200. Apple shares rose 0.5% in front of the market and rose by 82% in 2020, while the Dow Jones Industrial Average DJIA,
achieved 6.6% and the S&P 500 SPX,
achieved 15.5%.