- City analyst Jim Suva saw “several positive drivers” for Apple Inc. (NASDAQ: AAPL) products and services despite geopolitical risks and consumer concerns.
- Suva saw the iPhone maker declare an $80-90 billion buyout while increasing its dividend by 5-10% in second-quarter results. Apple still had more than $200 billion in cash on the balance sheet and authority to buy up to $315 billion in stock.
- While supply chain headwinds are expected to persist, Apple’s demand is driven by a shift in the mix from low-cost Android phones to more midrange and high-end products.
- Read also : Here’s how analysts see Apple’s latest products and services
- He snubbed Apple’s news about production cuts, given that Apple tends to exceed build estimates to ensure sufficient supply.
- He saw news of the production cuts as a headline likely to provide a short-term stock pullback that investors could use as a buying opportunity for Apple.
- He thinks Apple’s current market value doesn’t reflect launches of new product categories like virtual reality headsets and an Apple Car in 2025.
- Suva maintained a buy rating on Apple with a price target of $200 (up 20.7%).
- Price action: AAPL shares traded up 1% at $167.40 when last checked on Tuesday.
- photo by 13howard bouchevereau via Unsplash
Latest reviews for AAPL
| Date | Solidify | Stock | Since | For |
|---|---|---|---|---|
| March 2022 | Barclays | Maintains | Equal weight | |
| February 2022 | Financial Tigress | Maintains | strong purchase | |
| Jan 2022 | Swiss credit | Maintains | Neutral |
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