Morgan Stanley analyst Katy Huberty has raised her Apple price target twice in the last three weeks and, now, to $166.
Philip Elmer-DeWitt for Apple 3.0:
…Since troughing at ~$123 in early June, Apple shares are up over 20%, outperforming the S&P 500 by 16 points. We’d attribute this to three primary factors.
First, there has been a general flight to quality big tech names in recent weeks, with AAPL, AMZN, FB, GOOGL and MSFT outperforming the S&P 500 by 8 points, on average, since early June.
Second, App Store growth accelerated in the month of June, to +17%, with most of the App Store’s largest markets showing a clear acceleration on both a Y/Y and 2-year stacked basis, supporting the view of secular services growth.
And lastly, iPhone supply chain data indicates iPhone builds are expected to grow at a mid-to-high teens percentage Y/Y in C2H21, which along with recent share gains further supports our view that iPhone revenue can grow in FY22, and refutes the concerns of iPhone s-cycle declines.
MacDailyNews Take: Read more and see the charts in the full article here.
That’s getting away from that 100 dollar a share prediction. Imagine that, beaten by an analyst. You would figure that after years and years of Apple being doomed that people would get it. Owning Apple, that’s the way to go.
has been working for me since 1995, would not go back, nor go otherwise