appeal (AAPL) – Get report the shares rose on Tuesday amid positive comments about demand for iPhones and other products from several research analysts.
Credit Suisse analyst Matthew Cabral raised his share price target to $ 120 from $ 106, maintaining his neutral rating.
The stock traded at $ 131.10 on Tuesday, up 1.3%. It has risen by 76% in the past year.
“Our tracking of iPhone 12 latency shows a clear trend toward a better-than-expected mix of iPhone 12 Pro,” he wrote in a comment. ‘Wait [are] still extended to more than two weeks, about two months after launch, compared to last year’s 11 Pro, which achieved a balance between supply and demand in about six weeks. ‘
Meanwhile, “we also revised our forecasts for Apple’s other segments and increased our Mac and iPad estimates,” Cabral said. This reflects ‘continued winds of consumerism / distance learning and, to a lesser extent, lingering work from home’.
JP Morgan analyst Samik Chatterjee has a $ 150 buy-in price target on Apple. He is also enthusiastic about non-iPhone products.
“While the expectations for a 5G-powered supercycle may work against all the high investor expectations, we remain modest upside drivers in non-iPhone businesses,” Chatterjee wrote in a comment.
“The fourth quarter’s data points are remarkable in … indicating continued momentum in other hardware products from sustained work from home to home.” This is evident from the strong momentum of JAMF [a software company that provides service to Apple devices] to close 2020, as well as the momentum in the growth of services, ”he wrote.
Furthermore, “the latest version of Sensor Tower supports our expectations for continued upward changes to the consensus expectations for the non-iPhone segments,” Chatterjee added.