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- Apple (NASDAQ:AAPL) is getting some positive commentary from Wall Street, as Deutsche Bank boosted its price target, noting that Wall Street estimates for revenue growth this year are too low.
- Analyst Sidney Ho raised the price target to $200, from $175, while reiterating a buy rating, pointing out that Wall Street is only expecting 5% revenue growth this year and with some revenue being pushed out from 2021, which should account for 3% of growth, there is likely to be an "upward bias to estimates as we go through the year. "
- "In the near term, while we see supply chain constraints again being a headwind to revenue, we believe the supply chain has improved at a faster pace, with iPhone wait times shortening to only a few days, and that should be enough to drive a 'beat-and-raise,'" Ho wrote in a note to clients.
- Apple (AAPL) shares are down almost 1.5% to $170.58 in pre-market trading on Tuesday.
- Loop Capital recently raised its price target on Apple (AAPL) to $210, tying a Wall Street high, on near-term iPhone strength.