Apple price target raised to $190 from $180 at Wedbush

Wedbush analyst Daniel Ives raised the firm’s price target on Apple to $190 from $180 and keeps an Outperform rating on the shares. The firm cites positive Asia checks on iPhone demand thus far this quarter. Wedbush’s Asia iPhone supply chain checks this week have been incrementally more positive with a modest uptick in demand coming out of China for Apple with a clear demand rebound happening in this key region post December despite the uncertain macro backdrop. The months of January and February and early indications around March are steady on the iPhone front globally, which is a stark contrast to what the firm saw in the supply constrained December quarter due to zero COVID China issues. The stock is a Wedbush Best Idea List name.