Apple is getting a lift from Citigroup, after the bank reiterated its Buy rating on the stock and raised its price target.
“This Christmas is different for Apple,” Jim Suva wrote in a note to clients Thursday morning. “Apple’s product offerings as well as pricing strategies and recent demand trends augur for a better Christmas quarter compared with last [fiscal] year when Apple negatively pre-announced.”
Suva says that this year, the rest of Wall Street is underestimating demand for the Apple Watch and AirPods. Taken as a while, he says, the company’s wearable-products business segment can bring in more than $10 billion in revenue over the holiday quarter.
MacDailyNews Take: What a difference one year can make!
As we head into the holiday season, we have an enormous amount to look forward to. — Apple CEO Tim Cook, October 30, 2019