Sales of Apple Inc.’s iPhone 12 have surpassed Wedbush’s “bull bull case” for 2021, based on Asian supply chain controls, and should step up stocks with December results soon, analyst Dan Ives wrote in a note Thursday. “We believe that Apple saw a strong Christmas / holiday season not only on iPhones, but also had strong AirPods performance which will be another tailwind product that will be headed in 2021 by Cook & Co.” wrote Ives. Asian verifications suggest that the supply chain expects to build low or medium iPhone units of 90 million for the quarter, ahead of the 80 million in the mid-80s scheduled for mid-December, 75 million expected in late October and 65 million to 70 million spaces planned for three months ago, he wrote. “This is about a 35% increase over our original and street forecasts. For the March quarter, we believe total iPhone accumulations rose another 5% last week and are now in the 60s. and 70 million.For the June quarter, we believe the initial releases are in the low range of 40 million with potentially an upward trend.We haven’t seen any upward launch trend like this in several years for Apple and the ‘only similar trajectory of the iPhone would be the iPhone 6 in 2014 based on our analysis,’ Ives said. The Wall Street consensus is 217 million iPhone unit sales in fiscal 2021, but Wedbush sees potential for up to 240 million units, which would easily overshadow Apple’s previous record of 231 million units. units sold during 2015. It is important to note that with our estimate of 350 million 950 million iPhones worldwide are currently in the window of an upgrade opportunity, we believe this will translate into an unprecedented update cycle for Cook & Co. said Ives. Wedbush values that Apple outperforms with a $ 160 12-month price target and a $ 200 bullshit target. Apple shares rose 0.5% ahead of market and have gained 82% in 2020, while the DOW Jones Industrial Average DJIA,
gained 6.6% and the S&P 500 SPX,
has gained 15.5%.