Zhitong Finance APP learned that,CitigroupBanks have increased their appetite for PCs, smartphones and wearables after citing strong demand in end marketsAppleCompany's (AAPL.US) valuation, maintaining a "Buy" rating and a $170 share price target.
Analyst Jim Suva believes that AirTags has also brought significant benefits to Apple, and that high-margin sales of Apple accessories have also been boosted with the launch of "world-class marketing" by the tech giant. Suva told investors in a research note that the consensus expectation was too low even after accounting for the $3 billion to $4 billion impact from the decline in chip availability in the June quarter.
Additionally, Citi estimates Apple's FY21 EPS of $5.33, compared to its previous estimate of $5.18 and the consensus estimate of $5.17. In addition, the bank's profit forecast for Apple's fiscal years 2022 and 2023 also improved.
