Citi ups Apple price target to $160 on impending iPhone supercycle

“On Monday, Citi’s Jim Suva was the latest Wall Street analyst to become incrementally bullish on Apple’s stock,” Jayson Derrick reports for Benzinga. “In a research report, he argued that although Apple’s stock is trading near its all-time highs it isn’t necessarily too late to buy the stock.”

“Suva argued that Apple’s next leg of growth will come from the upcoming iPhone 8 super-cycle and longer-term prospects in new markets such as India,” Derrick reports. “These two headwinds alone will drive Apple’s sales and earnings per share and support an expansion in the valuation multiple of Apple’s stock.”

Derrick reports, “Shares of Apple were maintained with a Buy rating with a price target boosted to $160 from a previous $140.”

Read more in the full article here.

MacDailyNews Take: Analysts tend to flock together like birds.

Regardless: Go, AAPL!

Analyst: Here comes Apple’s iPhone ‘supercycle’ – February 21, 2017
Apple seen riding iPhone 8 ‘supercycle’ next year – October 14, 2016

[Thanks to MacDailyNews Readers “Fred Mertz” and “Dan K.” for the heads up.]


  1. And, if the price of AAPL starts declining, these same analysts will trip over each other in belatedly downgrading AAPL with an associated rationale.

    With the exception of a few enlightened analysts (who are still far from perfect), most analysts make their guesses and then revise them multiple times during each financial cycle based on reported data so that the results sound better. They typically upgrade their predictions after a stock has risen and downgrade after it has already fallen. If you are looking for valid predictions of the future price of AAPL, do not look to analysts. If they were any good, then they would be independently wealthy rather than pimping themselves for a salary. Every analyst should maintain a spreadsheet listing all stock/stock market predictions and dates along with actual data and a comparison score. That would demonstrate just how futile most of their efforts actually are in real life.

  2. I think some in Fortune first used the phrase “iPhone 8 Supercycle” last year in June. It is now used by everyone to describe the coming iPhone 8. The buzz is palpable. From Barron’s to Citigroup, the Supercycle is coming. All Apple has to do is one thing. Make sure there are NO Gates. No antennae gate, no battery gate, no OLED gate and so on. And if there is a gate, move quickly to find the problem and fix it. None of this “silence until it just goes away thing.”

  3. I held off on upgrading in december and decided to keep my phone for almost another year by way of buying an apple watch tide me over. So sales will be one more at least.

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