Apple shares are ready to rise even higher, as soon as the latest version of the iPhone appears on the market, says Wall Street's leading analyst.
Katie Huberty, who was a leading technology equipment analyst for institutional investors on 2020 year, stated in a note to customers, that the market has been too cautious about Apple ahead of its product launch next week.
"We expect, that Apple will launch new iPhone models, new Apple Watch and, maybe, new AirPods during its special event next Tuesday.
What to expect from the report?
Investor expectations remain muted, which creates interesting opportunities for autumn, if early iPhone data 13 will exceed expectations", – the note reads.
- Over the past three months, the stock has risen by more than 20%, but some professional investors still hold them back, Says Huberty.
Apple has been the most expensive company in the world for several yearsApple has been the most expensive company in the world for several years.
"The reason for the more bearish sentiment of institutional investors is the prevailing opinion among bears that, that with a more modest iPhone update period, supply/revenue, probably, will be reduced by double digits, in accordance with past iPhone s-series cycles.
However, we do not agree with this thesis.", – Huberty said, Pointing, in particular, on the current position of the iPhone and the demand for 5G phones.
Analyst rating
Analysts confirm their expectations after that, as a U.S. District Court Judge, that Apple can no longer require developers to use in-store purchases for apps, in Apple's ongoing legal case against Epic.
Kumar believes, that the power of the Apple ecosystem is like hardware, and in software/services creates a reliable platform for developers and that the announcement is unlikely to have a significant impact on the company's upcoming device announcement event. 14 September, or her wider business.
Morgan Stanley set a target price for Apple at levels $168 per share, What's on 9% above current levels.
