apple (AAPL) – Get the 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 its price target to $ 120 ($ 106), maintaining its neutral rating.
Shares traded at $ 131.10 on Tuesday, up 1.3%. It has shot up 76% in the last year.
“Our tracking of iPhone 12 wait times shows a clear trend toward a better-than-expected mix of iPhone 12 Pro,” he wrote in a comment. “Just wait [are] it was still extended to more than two weeks “about two months after launch”, compared to 11 last year which reached the supply / demand balance in about six weeks “.
Meanwhile, “we’re also reviewing our forecasts for the rest of Apple’s segments and increasing our estimates for Mac and iPad,” Cabral said. This reflects “consumer continuity / education of the back winds of remote learning and, to a lesser extent, persistent work from home.”
JP Morgan analyst Samik Chatterjee has a buy rating and a $ 150 price target from Apple. He is also excited about non-iPhone products.
“While expectations of a 5G-driven supercycle could be meeting already high investor expectations, we continue to see modest upward drivers in non-iPhone companies,” Chatterjee wrote in a comments.
“Fourth-quarter data points are remarkable at … indicating continued momentum in other hardware products from sustained tail winds from work from home.” This “is demonstrated in the strong impetus of JAMF [a software company that provides service to Apple devices] closing 2020 as well as boosting service growth, ”he wrote.
In addition, “the latest version of Sensor Tower supports our expectations of continued upward revisions to consensus expectations for non-iPhone segments,” Chatterjee added.