Apple analysts are highlighting signs of strong post-Christmas demand for the iPhone. JPMorgan, citing its “availability tracker,” said aggregate lead times for the iPhone 12 Pro were “quite robust and above 20 days, implying continued robust demand” following the holiday period.
Lead times across the iPhone 12 series overall had “moderated significantly,” added analyst Samik Chatterjee, who rates Apple overweight with a $150 price target.
Also on Thursday, Wedbush analyst Daniel Ives wrote that he was seeing signs of bullish momentum for the iPhone. Wedbush carries an outperform rating and $160 target, which matches the highest on the Street.
Asia supply-chain checks “have now exceeded even our ‘bull case scenario’ for units in FY21 given the current trajectory, a major positive for shares over the coming months.” He added that Apple likely saw strong demand for AirPods over the holidays, “another product tailwind heading into 2021.”
MacDailyNews Take: Apple seeing strong post-Christmas iPhone 12 Pro demand bolsters the case for a multi-year Mother of All iPhone Super Cycles.