Apple is likely to be one of the main beneficiaries from a “clear improvement” in the supply chain in Asia over the past week, as investment firm Wedbush Securities’ analyst Daniel Ives wrote in a new note to clients.
Chris Ciaccia for Seeking Alpha:
Analyst Dan Ives noted that Apple, as well as “other chip players,” are likely to be the main beneficiaries of the aforementioned improvements, calling it a “much needed positive heading into [the second half.]”
“While spots around zero Covid are popping up in China, we are seeing a strong production trajectory heading into June for stalwart names such as Apple (good for iPhone 14 ramp) and Tesla which are key barometers for the overall market on this painful hot button supply chain issue which has been a black cloud over the tech/automotive sector the last 6 months,” Ives wrote in a note to clients.
MacDailyNews Take: On Friday, Apple reclaimed its title as the world’s most valuable company, ending the week with a market value of $2.42 trillion, surpassing Saudi Aramco’s $2.39 trillion. Of course, you won’t see a lot of headlines about that, just vice versa.
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