Apple Faces 'Prove Me' Moment With 'Bear Noise Building' Ahead Of Q1 Results, Says Bullish Analyst
Portfolio Pulse from Shanthi Rexaline
Ahead of Apple Inc.'s Q1 results, Wedbush analyst Daniel Ives predicts a beat despite growing bearish sentiment. Ives expects focus on iPhone revenue, Services performance, and commentary on China, where iPhone demand remains stable despite competition from Huawei. He anticipates iPhone unit growth and an increase in average selling price in FY24, countering the 'growth demise story'. Ives also forecasts strong sales for the Vision Pro headset, maintaining an Outperform rating and a $250 price target for Apple stock.
January 31, 2024 | 5:15 am
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POSITIVE IMPACT
Wedbush analyst Daniel Ives anticipates a Q1 earnings beat for Apple, with a focus on iPhone and Services revenue, and stable demand in China. He predicts iPhone unit growth and higher ASP in FY24, and strong sales for the Vision Pro headset, maintaining a $250 price target.
The positive outlook from a reputable analyst like Daniel Ives can instill confidence in investors, potentially driving up the stock price in the short term. His anticipation of a Q1 beat and a strong sales forecast for the Vision Pro headset, along with a maintained Outperform rating and a high price target, are likely to be viewed favorably by the market.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100