Apple iPhone 12 Pro Demand Strong, Says J.P. Morgan

‘Even as iPhone 12 Pro preparations have moderated, … aggregate preparations for 12 Pro still remain rather robust,’ the bank stated.

Apple’s (AAPL) – Get Report higher-end iPhone 12 Pro, which begins at $999, amassed positive commentary from J.P. Morgan analyst Samik Chatterjee on Thursday, based on the firm’s accessibility tracker.

“Even as iPhone 12 Pro preparations have moderated on the exact same lines as other SKUs, aggregate lead times for 12 Pro still remain rather robust and above 20 days, indicating continued robust need,” Chatterjee wrote in a commentary that mentioned by Seeking Alpha.

The analyst kept his overweight rating and $150 rate target on Apple. Shares of Apple recently traded at $132.58, down 0.85%, and have surged 81% year to date.

Likewise, Wedbush expert Daniel Ives wrote in a note previously on Thursday that iPhone 12 momentum is going strong, with “super-cycle truth meeting hype” for the business’s most current mobile phone.

“Our Asia supply chain checks for iPhones continue to be incrementally bullish around iPhone 12 5G demand and have now gone beyond even our bull case situation for systems in FY21,” Ives composed.

That’s “a significant positive for shares over the coming months,” Ives said. And it’s not just iPhones. For the holiday, Apple “also had a strong Air Pods performance that will be another product tailwind heading into 2021 for [Chief Executive Tim] Cook & & Co.”

Ives preserved his outperform ranking and $160 rate target on Apple shares.

Meanwhile, iPhones controlled Christmas, the biggest day for brand-new smartphone activations, according to Flurry, an app analytics firm.

Apple iPhones took the leading nine areas in activations, within 2015’s iPhone 11 positioning initially, followed by the iPhone XR, iPhone 12 Pro Max, iPhone 12, iPhone 11 Pro Max, iPhone SE, iPhone 12 Pro, iPhone 8 Plus, and iPhone 8. LG’s spending plan K30 put tenth.

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