Wedbush: Spring conference is about to be held, giving 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 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 gave Apple an "outperform" rating and a target price of $200.While other tech and auto companies have been delaying production after supply chain issues, Apple is bucking the trend and launching new products, the analyst noted. He believes this shows that Apple can cope with unprecedented supply chain shortages around the world.
Ives believes that the iPhone SE starts at $399 and conservatively estimates that about 30 million units will be sold next year. According to recent supply chain surveys, global demand for the next generation SE is suppressed. The iPad Air is likely to feature the A15 chip, the 13-inch MacBook Pro is also expected to feature the upgraded M2 chip, and more Mac computers may be launched later this year, possibly at Apple's developer conference in June.
Ives said: "Overall, in the volatile geopolitical climate, investors generally tend to avoid risk, as the escalation of the Russia-Ukraine conflict has caused market uneasiness. We believe that Apple is a company worth investing in in this market storm."
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