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
Everyone who celebrates Christmas should avoid buying anything from any business that is happy to make beaucoup bucks from the Christmas shopping season while disrespecting it by calling it the “holidays.”