Still rising? The hot sale of iPhone 12 may push Apple’s market value to 3 trillion yuan, the agency said

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Tencent Technology News reported on March 10 that Daniel ives, an analyst at securities firm wedbush, put Apple shares on the “wedbush best ideas list” in his latest research report released on Thursday. Elvis believes that Apple’s market value is about to reach $300 million, and the recent sell-off creates a “gold buying opportunity.”.
“Apple broke Wall Street’s expectations for iPhone shipments in the quarter ending December,” Elvis said. This is a historic quarter, and Wall Street has been expecting apple to lower its forecast for iPhone shipments in the 2021 fiscal year, which is reflected in the stock sell-off in the past month. Our recent survey of the Asian supply chain shows that apple is expected to ship more than 230 million iPhones this year. In addition, our preliminary forecast for the iPhone 13 series devices is that they are expected to become game changers, which means that the super upgrade cycle of the iPhone will continue to the fiscal year 2022. ”
Elvis believes that the super upgrade cycle of the iPhone will begin in fiscal 2021. “While Wall Street is currently predicting that the iPhone’s shipment in 2021 fiscal year will be about 200 million units, we believe that according to the current trend, under extremely optimistic circumstances, the iPhone’s shipment in this fiscal year is expected to exceed 240 million units, or even reach 250 million units. This shipment will easily exceed Apple’s record of 231 million units in fiscal 2015. Importantly, we estimate that 350 million of the 950 million iPhones in the world are currently in the window of upgrade opportunities, which we believe will turn into an unprecedented super upgrade cycle for apple. ”
“According to the latest information, Apple will release its next iPhone in September,” Elvis said. According to data from the Asian supply chain, the iPhone 13 series currently has about 100 million units in stock, up 25% from the 80 million units of the iPhone 12 Series in the same period last year. ” Elvis said they are increasingly confident that the iPhone 13 will have 1TB of storage options and will include many enhancements, including lidar, in all iPhone 13 models.
In the research report, Elvis maintained Apple’s “outperforming” rating and set the target share price at $175. Elvis believes that under extremely optimistic circumstances, Apple’s share price will reach $225.
Apple shares rose 4.06% to close at $121.09 on the Nasdaq stock market on Tuesday. Apple shares fell 0.29% to $120.73 in pre market trading on Wednesday. Apple is worth about $2.03 trillion at Tuesday’s closing price. In the past 52 weeks, Apple’s lowest share price was $52.33 and the highest was $144.89. (compiled by Tencent technology / Wuji)