'Seeds' For Apple's Turnaround In China Are 'Being Planted,' Says Wedbush's Dan Ives: 'Some Patience Is Required To Navigate This Weakness'
Portfolio Pulse from Rounak Jain
Wedbush's Dan Ives is optimistic about Apple Inc.'s (NASDAQ:AAPL) future in China despite current struggles, citing steady iPhone production and strong performance in other key markets. Ives highlights potential growth catalysts including AI announcements and a stronger iPhone upgrade cycle, maintaining an 'Outperform' rating with a $250 price target. Apple faces competition and geopolitical challenges in China but is taking steps like shifting manufacturing to India.
April 11, 2024 | 1:43 pm
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POSITIVE IMPACT
Dan Ives of Wedbush maintains an optimistic outlook for Apple in China, citing steady iPhone production and potential growth catalysts. Despite challenges, an 'Outperform' rating and a $250 price target suggest a positive short-term impact.
Despite Apple's current challenges in China, Dan Ives's analysis points to several factors that could drive growth, including AI developments and a strong iPhone upgrade cycle. The optimistic 'Outperform' rating and significant price target uplift imply a positive short-term outlook for AAPL's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100