- The price target of Apple Inc (NASDAQ: AAPL) has been reiterated at $150 with an Outperform rating by Wedbush. These are the details.
The price target of Apple Inc (NASDAQ: AAPL) has been reiterated at $150 with an Outperform rating by Wedbush. Wedbush analyst Daniel Ives pointed out that Apple has been continuing to see major demand for iPads and Macs as many companies and schools around the world forced employees and students to telecommute as an alternative due to the global pandemic of COVID-19.
Ives also cited the Apple event today where the company revealed a new lineup of Macs that use Apple’s own silicon-based chips. These new chips make Apple less reliant on Intel.
Plus Ives also noted that the chip announcement is considered the first step out of many more on the horizon for Apple. For example, Ives also expects there to be an announcement about a new line of AirPods soon.
At the event today, Apple had announced a new MacBook Air, a 13-inch MacBook Pro, and a new Mac mini. The Apple M1 chip delivers up to a 3.5x faster CPU, a 6x faster GPU, up to 2x longer battery life, and up to 15x faster machine learning.
“The introduction of three new Macs featuring Apple’s breakthrough M1 chip represents a bold change that was years in the making, and marks a truly historic day for the Mac and for Apple,” said Apple’s CEO Tim Cook in a statement. “M1 is by far the most powerful chip we’ve ever created, and combined with Big Sur, delivers mind-blowing performance, extraordinary battery life, and access to more software and apps than ever before. We can’t wait for our customers to experience this new generation of Mac, and we have no doubt it will help them continue to change the world.”
Disclosure: I have a small AAPL position in my stock portfolio.