My Portfolio
My Watchlists
Profile & Performance
Smart Portfolio
Find & Follow Experts
Top Lists
Top Experts
Make Better, Data Driven Investment Decisions
TipRanks tools are all you need to make data-driven investment decisions. Conduct comprehensive stock research, find new investment ideas, analyze your portfolio, and follow the best-performing Wall Street experts, with ease.
About Us
Plans & Pricing
Welcome

Apple Meeting Demand Despite iPhone 13 Supply Challenges

The largest company in the world recently presented its new lineup of several products, and since then has been experiencing bullish numbers in regard to supply and demand. Apple Inc. (AAPL) launched its iPhone 13, the keystone of its product supercycle, which has been hailed as the strongest “in roughly a decade.” (See Apple stock charts on TipRanks)

This claim was included in Daniel Ives‘ report from Wedbush Securities, who noted that sales and distribution of the smartphones are already indicating promising metrics.  

Ives rated the stock a Buy, and provided a bullish price target of $185. Before market open on Thursday, this price target reflected a possible 12-month upside of 26.84%.  

A large market for iPhones, China has been buying them up more than any other nation. Sales increased about 20% more year-over-year, due in part to long-time established users converting to upgraded models. Ives estimates that about one quarter of all iPhone users have not upgraded in three and a half years.  

Many upgrades are occuring through carrier trade-in plans, and a healthy portion of these involve the more high-end iPhone models.  

The five-star analyst mentioned that while supply chain challenges remain an overhang, iPhones are thus far being delivered at an even higher rate, when compared to last year’s iPhone 12 launch. According to Ives, the high levels of production signal “an increased confidence with Cook & Co. [Apple’s senior management] that this 5G driven product cycle will extend into 2022.”  

On TipRanks, AAPL has an analyst rating consensus of Strong Buy, based on 19 Buy and 6 Hold ratings. The average Apple price target is $169.64, suggesting a potential 12-month upside of 16.31%. These statistics are accurate prior to market open on Thursday, September 23.  

Disclosure: At the time of publication, Brock Ladenheim did not have a position in any of the securities mentioned in this article.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of Tipranks or its affiliates, and should be considered for informational purposes only. Tipranks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. Tipranks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by Tipranks or its affiliates. Past performance is not indicative of future results, prices or performance.