- The stock price of Apple Inc (NASDAQ: AAPL) has received a price target increase from $131 to $155 from Loop Capital. These are the details.
The stock price of Apple Inc (NASDAQ: AAPL) has received a price target increase from $131 to $155 from Loop Capital. And Loop Capital analyst Ananda Baruah reiterated a “Buy” rating for Apple shares.
Apple will be reporting its quarterly earnings after the market close on January 27. And in a research report, Baruah said that he expects Apple to have a really “big year.”
Baruah believes there will be a major upside to the Street numbers for the near-term and throughout 2021 as a whole, largely driven by the strength in iPhones and Macs. And Baruah said that his estimate for iPhone shipments is well above Wall Street expectations at 80 million units for the December quarter, 57 million for the March quarter, 50 million for the June quarter. This also means that Baruah revenue expectations are well above Wall Street expectations.
“The Mac remains supply-constrained, and improved product availability is not anticipated until well into calendar 2021, while current share gains with consumers and in enterprise, aided by new Apple silicon Macs, can sustain some of the current strength even with a Covid vaccine on the horizon,” wrote Baruah in a research note via Barron’s.
Disclosure: I have a small AAPL position in my stock portfolio