Apple’s iPhone 12 sales exceed Wedbush’s ‘bull case scenario’, which is expected to increase the share

Sales of Apple Inc.’s iPhone 12 have exceeded Wedbush’s “bull case scenario” for fiscal year 2021, based on supply chain controls in Asia, and should increase shares with the December results coming soon, analyst Dan Ives wrote in a note on Thursday. “We believe Apple saw a robust Christmas / holiday season not only on iPhones, but also had strong AirPods performance that will be another product tailwind against Cook & Co in 2021,” Ives wrote. Asia checks suggest that supply chain expects low to mid-90 million iPhone devices for the quarter, comfortably ahead of 80 million to mid-80s, expected in mid-December, 75 million expected in late October and 65 million to 70 million expected three months ago, he wrote. “This is about a 35% increase from our original forecasts and Street forecasts. For the March quarter, we believe buildings for total iPhones increased another 5% in the last week, and are now in the range of 60 to 70 million. For the June quarter, we believe that “The initial builds are in the low range of 40 million with potentially an upward skew. We have not seen a launch trend like this in a number of years for Apple, and the only iPhone track was the iPhone 6 in 201

4 based on our analysis,” said Ives. The Wall Street consensus is on 217 million sales of iPhone devices in fiscal year 2021, but Wedbush sees potential for up to 240 million units, “which would easily darken the previous Apple record of 231 million units sold in FY15. More importantly, “With our estimate that 350 million of the 950 million iPhones worldwide are currently in the window of an upgrade opportunity, we believe this will lead to a unique upgrade cycle for Cook & Co.,” said Ives. Wedbush rates Apple as better than a $ 12-month price target and a bull case target of $ 200. Apple shares rose 0.5% before the market and reached 82% in 2020, while the Dow Jones Industrial Average DJIA,
+ 0.30%
has received 6.6% and S&P 500 SPX,
+ 0.27%
has received 15.5%.