Apple could see higher highs.
Earlier this week, we reported:
“Not only is there buzz about an electric Apple car, we’re hearing that demand for the iPhone 13 is explosive. In fact, while it’s not available just yet, “Demand for the iPhone 13, according to Dan Ives of Wedbush, is solid. ‘Our Asia supply chain checks for 2H heading into Labor Day weekend continue to put iPhone builds between 130M-150M. The iPhone 13 appears to represent 35%-45% of iPhone builds in Q3,’ as quoted by Fox Business.
Now, Baird analyst William V. Power raised his price target to $170 ahead of a potential Tuesday unveiling on the new iPhones.
“Rumors regarding satellite connectivity could provide differentiation at some point, though inclusion in this cycle is less clear,” Power wrote, as quoted by Barron’s “In addition to iPhone, we also expect Apple Watch 7, along with other possible updates.”
Shares of Apple last traded at $154.57.
To listen in on the September 2021 keynote from Apple, visit the Apple newsroom site here.