Apple Has 'Flex The Muscles Moment' With iPhone 15, Expects 'Mini Supercycle' To Propel Shares Forward
Portfolio Pulse from Chris Katje
Apple Inc (AAPL) unveiled the iPhone 15 at a recent event, with preorders starting on September 15. Wedbush analyst Daniel Ives maintains an Outperform rating on Apple with a price target of $230. Ives expects the iPhone 15 to trigger a 'mini supercycle' despite macroeconomic uncertainties and issues in China. He estimates Apple will sell around 85 million iPhone 15 units initially, which is similar to the iPhone 14 launch. Ives also anticipates a shift towards the Pro and Pro Max models, which could boost average sale prices (ASPs). Apple shares were down 1.71% to $176.30 at market close on Tuesday.
September 12, 2023 | 11:12 pm
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Apple's unveiling of the iPhone 15 is expected to trigger a 'mini supercycle', potentially boosting sales and ASPs. The stock is rated Outperform by Wedbush analyst Daniel Ives, with a price target of $230.
The launch of the iPhone 15 is a significant event for Apple, with the potential to drive a 'mini supercycle' of sales. This, along with a shift towards the higher-priced Pro and Pro Max models, could boost Apple's ASPs and revenues. Wedbush analyst Daniel Ives' Outperform rating and $230 price target suggest positive sentiment towards the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100