“Bank of America Merrill Lynch analyst Wamsi Mohan raised his target price [on Apple shares] to $220 from $180,” Beth Mellor reports for Bloomberg. “That’s the highest target price among analysts surveyed by Bloomberg.”
Mellor reports, “Harrison cited relatively tame demand for the iPhone, predicting shipments would grow less than 10 percent this year versus a consensus forecast of 11 percent.”
MacDailyNews Take: 10 percent growth is a so-called saturated market is hardly indicative of “tame demand.”
“‘In 2018, we remain bullish on potential for cash repatriation, lower tax rates, and the potential for positive estimate revisions heading into 2019,’ the analyst wrote in a note,” Mellor reports. “Apple’s fiscal first-quarter results, scheduled for Feb. 1, may provide clues as to the health of iPhone demand, particularly in the crucial Chinese market.”
Read more in the full article here.
MacDailyNews Take: Bank of America Merrill Lynch, we’ve heard of.
Apple stock slips as no-name analyst claims ‘lukewarm’ iPhone X demand – January 17, 2018