Apple Gains After JPMorgan Sees Signs of ‘Robust’ iPhone Demand
- Shares set for a second straight year with an 80% advance
- Wedbush eyes strong demand for both iPhone and AirPods
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Apple Inc. rose slightly on Thursday, suggesting it will end a year that’s already seen robust gains on a continued positive note, as analysts highlight strong demand for the iPhone.
JPMorgan, citing its “availability tracker,” said aggregate lead times for the iPhone 12 Pro were “quite robust and above 20 days, implying continued robust demand” following the holiday period. Lead times across the iPhone 12 series overall had “moderated significantly,” added analyst Samik Chatterjee, who rates Apple overweight with a $150 price target.