Apple (AAPL) – Request report Shares rose on Tuesday amid positive comments about demand for iPhones and other products from various research analysts.
Credit Suisse analyst Matthew Cabral raised his price target from $ 106 to $ 120, while maintaining his neutral rating.
The stock traded at $ 131.10 on Tuesday, up 1.3%. It is up 76% over the past year.
“Our iPhone 12 latency tracking shows a clear trend towards a better-than-expected mix of iPhone 12 Pro,” he wrote in a comment. “Wait [are] still extended by more than two weeks “about two months from launch,” compared to last year’s 11 Pro which reached the supply / demand balance in about six weeks. “
Meanwhile, “we are also revising our forecasts for Apple’s other segments and increasing our estimates for Mac and iPad,” Cabral said. That reflects “the continuing consumer / education wind of distance learning and, to a lesser extent, extended home working”.
JP Morgan analyst Samik Chatterjee has a buy rating and a price target of $ 150 for Apple. He too is enthusiastic about non-iPhone products.
“While expectations for a 5G-powered super cycle could clash with already high investor expectations, we continue to see modest positive factors in the non-iPhone companies,” Chatterjee wrote in a comment.
“The data points in the fourth quarter are remarkable as they indicate continued momentum in other hardware products due to ongoing tailwinds from home.” This is evident from JAMF’s strong momentum [a software company that provides service to Apple devices] to close 2020, as well as the momentum in services growth, ”he wrote.
Furthermore, “the latest release of Sensor Tower supports our expectations for continued upward revisions to consensus expectations for the non-iPhone segments,” added Chatterjee.