“As the holiday shopping season moves along, Apple continues to get love from Wall Street with JMP Securities the latest firm to boost its price target on the stock of the world’s largest company. It’s the fourth such price target boost in the past few days,” Chris Ciaccia reports for The Street.
“Analyst Alex Gauna boosted his price target to $150, keeping his ‘market outperform’ rating following retail and online checks that revealed “powerful demand” for Apple products during the holiday shopping season,” Ciaccia reports. “‘Even as the supply of iOS devices gradually improves and online ordering lead times have eased, Apple is continuing to sell out and/or seeing extended lead times for its highest-end iPhone and iPad offerings in the U.S. and China and we see this translating into positive implications for December quarter unit volumes, ASPs, and gross margins,’ Gauna wrote in a note. ‘We are also witnessing a lack of competitive momentum from key Android rivals that we believe should translate into further share gains for Apple in the December quarter, better entrenchment of the business model, and a wide-open opportunity for Apple to transform the wearables and mobile payment markets in 2015.'”
“The iPhone 6 and 6 Plus have been in such incredible demand since they first became available in September that Apple has had trouble making enough units to keep up with demand, most notably demand for the larger, 5.5-inch iPhone 6 Plus,” Ciaccia reports. “Guana believes that Apple has made inroads on getting supply increased, but noted that sources ‘have indicated that even Apple has been surprised by the strength of demand.'”
Read more in the full article here.
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