Apple shares may have slumped during the recent tech sell-off, but a Wedbush analyst said the dip is a golden buying opportunity.
Daniel Ives has an Outperform rating and $175 price target for Apple shares, with the bull case price target at $225. Wedbush added the stock to its “Best Ideas” list.
Wedbush’s Asia checks are markedly bullish, suggesting over 230 million units for 2021, he said. The initial build forecast for the iPhone 13 indicates the supercycle will continue into fiscal year 2022, Ives said.
With a 3 trillion valuation in sight for Cupertino, the recent sell-off in share creates a golden buying opportunity, according to Wedbush.
MacDailyNews Take: When the goal is to own it, not trade it, any Apple stock dip is a golden buying opportunity.