Canaccord ups Apple price target on iPhone 12 strength

Canaccord Genuity analyst T. Michael Walkley has boosted his price target on Buy-rated Apple to $150 on strong demand for iPhone 12 devices.

The pro camera system on iPhone 12 Pro models includes new Wide cameras for even better low-light performance, an expansive Ultra Wide camera, and a Telephoto camera for capturing stunning images and video.
The pro camera system on iPhone 12 Pro models includes new Wide cameras for even better low-light performance, an expansive Ultra Wide camera, and a Telephoto camera for capturing stunning images and video.

Clark Schultz for Seeking Alpha:

The firm thinks the iPhone business and other hardware products could see double-digit growth in FQ1

Canaccord expects FQ1 EPS from Apple of $1.41 vs. $1.40 consensus and anticipates FY21 EPS of $4.46.

The $150 PT price target is derived by taking a 30K multiple to the FY22 EPS estimate of $4.97.

Shares of Apple traded as high as $136.69 in December.

MacDailyNews Take: May that $150 Apple price target quickly go from Walkley’s lips to Mr. Market’s ears.

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