Apple (AAPL) – Get the report shares rose on Tuesday amid positive comments about the demand for the iPhone and other products from several research analysts.
Credit Suisse analyst Matthew Cabral raised its stock price target to $ 120 from $ 106, maintaining its neutral rating.
The stock traded at $ 131.10 on Tuesday, up 1.3%. It has increased by 76% in the last year.
“Tracking wait times for the iPhone 12 shows a clear trend toward a better mix than expected of the iPhone 12 Pro,” he wrote in a comment. “Wait [are] extended to more than two weeks “two months after launch,” compared to last year’s 11 Pro, which reached supply / demand balance in about six weeks “
In the meantime, “we’re also revising our forecasts for the other Apple segments and increasing our estimates for the Mac and iPad,” Cabral said. This reflects “continuous consumption / wind education in distance learning and, to a lesser extent, persistent work from home”.
JP Morgan analyst Samik Chatterjee has a buy rating and a target price of $ 150 on Apple. And he is excited about non-iPhone products.
“While expectations for a driven 5G supercycle may be in line with already high investor expectations, we continue to see modest drivers among non-iPhone businesses,” Chatterjee wrote in a comment.
“Fourth-quarter data are noteworthy in… indicating a continued momentum in other hardware products from tailwinds sustained at work.” This is “highlighted in the strong impetus from the JAMF [a software company that provides service to Apple devices] to close 2020, as well as the impetus for the growth of services “, he wrote.
Moreover, “the latest version of Sensor Tower supports our expectations for ongoing upward revisions to consensus expectations for non-iPhone segments,” Chatterjee added.