Deutsche Bank ups Apple price target on iPhone SE promise

Deutsche Bank’s analysts have upped their Apple price target, writing in a note to clients that Apple’s new iPhone SE (2020) could help to counteract sales weakness caused by retail store closures due to the coronavirus pandemic.

Apple yesterday announced the second-generation iPhone SE, a powerful new iPhone featuring a 4.7-inch Retina HD display, paired with Touch ID for industry-leading security. iPhone SE comes in a compact design, reinvented from the inside out, and is the most affordable iPhone.

Deutsche Bank Apple price target. Image: iPhone SE (2020)
iPhone SE (2020)

The new iPhone SE is powered by the Apple-designed A13 Bionic, the fastest chip in a smartphone, to handle the most demanding tasks. iPhone SE also features the best single-camera system ever in an iPhone, which unlocks the benefits of computational photography including Portrait mode, and is designed to withstand the elements with dust and water resistance.

iPhone SE comes in your choice of black, white and (PRODUCT)RED — and will be available for pre-order beginning Friday, April 17, starting at just US$399.

Dan Weil for TheStreet:

Deutsche Bank analysts raised their share-price target for Apple amid optimism about the new iPhone SE.

“Overall, we are positive on the iPhone SE released and see a larger [total available market] for the product than in 2016,” the analysts, led by Jeriel Ong, wrote in a report.

The SE also can “help bridge the gap to the summer, when iPhones could resume a more normalized demand outlook as major Western economies consider a reopening plan,” they wrote.

The analysts affirmed their buy rating and raised their share-price target to $285 from $270.

MacDailyNews Take: Apple is currently trading up $2.07 at $286.50, $1.50 over Deutsche Bank’s oh-so-brave 12-month target.


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