Piper Sandler ups Apple price target to $300 on strong U.S. teen demand

Piper Sandler has upped their price target on Apple shares from $260 to $300, citing the firm’s biannual U.S. teen consumer survey which showed Apple’s iPhone and Apple Watch as the most popular smartphone and smartwatch, respectively.

Piper Sandler ups Apple price target. Image: iPhone 11
Apple’s iPhone 11

The firm maintains an “Overweight” rating.

In Piper’s poll, 85% of U.S. teens owned an Apple iPhone, the highest percentage in the survey’s history.

In the autumn 2019 survey performed by Piper, the “Taking Stock with Teens” report determined that 83% of teenagers had an iPhone, which was, at the time, the highest level seen by the firm in its research. In autumn 2018, the same survey discovered 82% owned an iPhone, so the numbers are continuing to rise.

Piper says that strong AirPods interest among U.S. teens surveyed shows the “already strong attach rate and solid purchase intent” in Apple’s non-core products, says Piper.

MacDailyNews Note: In our own poll of (four) U.S. high school students, it was made perfectly clear that “green bubbles are bad, really bad… there are like three Android phones in the whole school. Everybody has an iPhone.” It makes perfect sense for Piper to raise their Apple price target, as the stock is undervalued currently ahead of the 5G iPhone super cycle and looming recovery after the COVID-19 shock.

8 Comments

  1. NO MORE ANALYSTS. This only seems to amount to stock manipulation.

    We can all guess. I say let’s do that. Let’s all guess. Without having inside information or without watching each and every order, without camping outside each and every store, please, analyst could not predict the weather on a bright sunny day. Why publicly announce a price target?

    There seems to be only one reason I give a price target, manipulate the price of the stock. And, do it publicly so people will believe that is not the goal.

  2. Humans 0-29 are not passing away from the Coronavirus if you look at the numbers from Spain and Italy (the hardest hit in Europe) only 10 of 10,555 have passed away, old people over 70 however not good. Once again Spain is still the only country that reports hospital stay case, ICU, age, and death.

    1. The data from the models used, initial produced data of doom. Apparently the “assumptions” used to “feed” the models has changed dramatically, that’s resulted in far less “doomy” results. It seems to me, it’s time to seriously reconsider the current clamp-down methods. In the end, if continued, it will be far more costly…maybe not clearly measurable in the beginning, but very substantial as time moves on.

      Dr. M Burry, of “The Big Short” fame has a unique position being simultaneously medically trained and active in the market.

      Burry wrote that “universal stay-at-home is the most devastating economic force in modern history… And it is man-made. It very suddenly reverses the gains of underprivileged groups, kills and creates drug addicts, beats and terrorizes women and children in violent now-jobless households, and more. It bleeds deep anguish and suicide.”

      Pretty dramatic, maybe overly so, but….

      From: https://www.zerohedge.com/health/michael-big-short-burry-blasts-unjustifiable-lockdowns-most-devastating-economic-force#comment_stream

    2. “Humans 0-29 are not passing away from the Coronavirus”

      Followed by

      “if you look at the numbers from Spain and Italy (the hardest hit in Europe) only 10 of 10,555 have passed away”

      Conclusion, humans 0-29 ARE passing away, just at a lower rate.

  3. Because I’m dubious…

    Of yesterday: the Dow was up 4% today and later closed down. Since 1925/95 yrs ago, this has happened only one other time…on Oct 14, 2008 when Treasury Sec Hank Paulson forced banks to take TARP$.

    Analysts can say, or imply, the stock market is nearing its own “V” (recovery bounce), while facts, like the one above, coincide with historical realties that aren’t aligned with recovery-time.

    The bio “V” is coinciding with more hopeful news, though it seems.

    1. Caviar is a luxury item, you don’t need caviar to communicate with all of your friends, family and the rest of the world. People will keep buying iPhones, maybe not as frequently, maybe not the top-of-the-line, maybe more used or refurbished models, but practically everyone who owns an iPhone is going to upgrade or replace that iPhone in the next few years.

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