Deutsche Bank analyst Jeriel Ong today raised the firm’s price target on Apple to $350 from $320, a price that’s already currently underwater with AAPL trading right now up $7.80 to $351.79. Deutsche Bank maintains a Buy rating on the shares.
Given recent new product announcements from MacBook Pro on and a release of MacBook Air/iPad Pro on March 18, the analyst sees an ARM-based Mac product in 2020 to be unlikely. While news about a shift to ARM has been discussed over the past several years, the frequency of news articles in 2020 in particular seem to indicate an inevitable shift for Apple in 2021, says Ong. The analyst, though, adds that without being able to test an ARM-based Mac, he can’t opine with high confidence on whether this is a good or bad move for Apple.
MacDailyNews Take: Way to go out on a limb with your Apple price target, Jeriel! And, btw, it’s a good move; Intel is a slug. Apple is likely to give developers the heads up on ARM-based Macs later this month during WWDC and give them until next year to get ready for the public release of Macs with Apple-designed main processors.