- The shares of Apple Inc (NASDAQ: AAPL) have received a $200 price target from Wedbush. These are the details.
The shares of Apple Inc (NASDAQ: AAPL) have received a $200 price target from Wedbush. And Wedbush analyst Daniel Ives raised the price target on Apple from $185 while maintaining an “Outperform” rating on the shares.
Ives cited increased confidence in the iPhone 13 growth cycle into 2022 following channel checks. And these checks continue to be much stronger than expected. Plus Apple is now on pace to sell over 40 million iPhones during the holiday season despite the chip shortage headwinds.
So Ives believes the underlying iPhone 13 demand story both domestically and in China is trending well ahead of Street expectations. And Ives estimates that in China alone, there are roughly 15 million iPhone 13 upgrades for the December quarter.
Based on these metrics, Ives believes Apple is on its way to a $3 trillion market cap next year. And it is a top tech name to own.
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