Citi analyst Jim Suva raised the firm’s price target on Apple to $125 from $112.50 and keeps a Buy rating on the shares.
The analyst increased estimates for Apple’s Wearables segment to reflect continued demand strength…
Additionally, the Watch’s Family Setup feature will help drive additional customers to the user base, Suva tells investors in a research note.
The analyst also continues to believe that the iPhone 12 delay is still slated for launch and availability in sufficient time for the holiday season.
MacDailyNews Take: Good to see Citi recognize that Apple is undervalued by raising their price target!
Family Setup in watchOS 7 is a great way to bring the communication, health, fitness, and safety features of Apple Watch to kids and older family members who do not have an iPhone. For the first time, Apple Watch can be set up through a parent’s iPhone, so kids can connect with family and friends through phone calls and Messages, stay motivated with personalized Activity goals, and express their creativity through custom Memoji.