Apple Inc. analyst Dan Ives says he is focusing on the “robust consumer demand story” shaping up for iPhone 13 into 2022 instead of focusing on supply chain shortages.
Apple Analyst
Ives maintained his “Outperform” rating and $200 price target, while his bull case for Apple remains $225.Apple Thesis
Ives said Wedbush’s recent supply chain checks have revealed that demand for the iPhone 13 is outstripping supply by nearly 12 million units in the December quarter and will add to “tailwinds” for the Tim Cook-led company in the March, and June quarters.China is a “major source of strength” for Apple as Wedbush noted that the company has gained 250 bps of market share over the last 12 months “on the heels of its 5G iPhone 12/13 Tag Team product cycle.”
