Wedbush: Spring Launch Coming, Give Apple an Outperform Rating
智通财经2022-03-08
Zhitong Finance APP learned that,AppleThe 2022 Spring Conference will be held at 10 a.m. local time on March 8 (2 a.m. Beijing time on March 9). It is widely expected to launch a new iPhone SE with 5G capabilities, as well as a new iPad Air and Mac using its M-series chips. Wedbush Securities believes that all of the above products will become "popular products" for Apple. Wedbush analyst Dan Ives has an "outperform" rating on Apple with a $200 price target.The analyst noted that other tech and automotive companies have been delaying production after problems with their supply chains, while Apple is bucking the trend and launching new products. He believes this shows that Apple can cope with unprecedented supply chain shortages worldwide.
Ives believes that the iPhone SE starts at $399 and is conservatively estimated to sell around 30 million units next year, with global demand for the next SE suppressed according to recent supply chain surveys. The iPad Air is likely to be powered by the A15 chip, the 13-inch MacBook Pro is also expected to be powered by the upgraded M2 chip, and more Macs are likely to come later this year, possibly at Apple's developer conference in June.
"Overall, investors are generally risk averse in a volatile geopolitical climate, as the escalation of the Russia-Ukraine conflict has triggered market unease, and we believe that Apple is a worthwhile company to invest in amid this market storm," Ives said.
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