UBS upgrades Apple to buy on auto market hopes

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UBS upgrades Apple to buy on auto market hopes

Dow Jones2021-03-31

MW UBS upgrades Apple to buy on auto market hopes

UBS analysts led by David Vogt upgraded their rating on Apple $(AAPL)$ to buy from neutral and lifted the price target to $142 from $115. "While our analysis of iPhone procurement and mix drives our FY22 estimates higher and our 'Core' value to $128 (from $115), our analysis of the auto market and Apple's multi-year investment in the industry (self-driving car licenses and LiDAR patents) suggests to us Apple's auto optionality is worth at least an incremental $14/share," they said. UBS says an Apple-branded battery electric vehicle, or BEV, could achieve a 5% market share. Apple shares rose 1.8% in premarket trade, but have skidded 10% this year, hurt by the rise in Treasury yields that has pressured other technology giants.

-Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

March 31, 2021 06:31 ET (10:31 GMT)

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Peonut
·2021-03-31
Go to Tesla
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mcwood
·2021-03-31
[得意]
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AlvinTham
·2021-03-31
Comment and like pls, thanks!
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- EV8:
  ??
  2021-04-01
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3600秒的守候
·2021-03-31
pinglun
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- AlvinTham:
  command and like pls, thanks!
  2021-03-31
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