Canaccord raises Apple price target to $175, reiterates ‘Buy’ rating

Canaccord Genuity analyst T. Michael Walkley has upped the investment firm’s price target on Apple to $175 from $165 and reiterated a “Buy” rating on AAPL shares.

Apple Park in Cupertino, California
Apple Park in Cupertino, California

Walkley increased estimates based on “strong demand across the company’s products” ahead of Apple’s Q321 earnings report on July 27th. He believes consensus estimates will prove conservative for the fiscal Q3 results as well as the Q4 guidance should Apple return to providing guidance as Apple continues to demonstrate the strength of its product ecosystem.

Walkley also writes in a note to clients that Apple is well-positioned to continue to benefit from the extended 5G upgrade cycle.

MacDailyNews Note: Apple’s all-time high is $150.00, set on July 15, 2021.

As always, we will have the results for you as soon as they are released, right around 1:30pm PDT / 4:30pm EDT. Just check our homepage on that date at that time.

The company will also conduct a conference call with analysts to discuss third fiscal quarter results is scheduled for Tuesday, July 27, 2021 at 2:00pm PDT / 5:00pm EDT. We will also cover the Apple Q321 conference call with live notes. Visit check our homepage on that date around 1:45 pm PDT / 4:45 pm EDT for the link.

See also: UBS ups Apple price target to $166 – July 20, 2021


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