- The shares of Apple Inc (NASDAQ: AAPL) have received a $185 price target from Wedbush. These are the details.
The shares of Apple Inc (NASDAQ: AAPL) have received a $185 price target from Wedbush. And Wedbush analyst Daniel Ives assigned the company an “Outperform” rating.
Ives noted that more good news could come from Apple next week — ahead of the quarterly results. And as far as the quarterly results, Ives expects another beat across the board.
Ives said that Wall Street is looking for $73 billion and $1 in earnings, both of which seem conservative due to the underlying iPhone strength seen during the quarter with an uptick in demand from China. Even though the chip shortage has been an overhang for Apple during the quarter, Ives is expecting the iPhone and Services strength in the quarter had neutralized any short-term weakness that analysts were expecting 3 months ago.
And based on recent supply chain checks in Asia, Ives believes that the iPhone 13 demand will be slightly stronger than the iPhone 12 out of the gate. This would support Ives’ theory that this will be an elongated supercycle for Apple well into 2022.
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