Apple: Wedbush, a buyer - likes 'strong demand'
(CercleFinance.com) - An analyst at Wedbush today confirms a buy ("outperform") recommendation on the Apple stock, who, after an analysis of Asian markets, notes a "strong demand" for iPhones from China.
Thus, Wedbush says that demand from China alone is 15% to 20% above Apple smartphone sales estimates in this country. "Our iPhone units forecast of 185 million for FY20 is very hittable and could show further upside especially as iPhone 11 Pro continues to also track ahead of expectations in the US," the broker notes.
Wedbush confirms its target price of 265 dollars for the Apple share.
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