As the largest company in the world by market cap and one of the most widely traded, Apple Inc. (NASDAQ: AAPL) garners a large amount of attention from analysts. For the most part, when analysts weigh in on Apple they are generally in consensus, but not necessarily for the same reasons. However, 24/7 Wall St. has come across a few recent analyst calls that all take a positive perspective on the iPhone giant for a few different reasons.
Credit Suisse has an Outperform rating with a $140 price target, implying over 30% of upside for the stock. The brokerage firm’s reasoning behind it was that Apple just released updates to its iPhone portfolio, a new iPad Pro, additional Apple Watch bands and software updates for iOS and tvOS. The firm believes that the releases complement Apple’s solid portfolio in the compute market.
As widely expected, Apple released a four-inch iPhone SE, and Credit Suisse sees these new key features and the attractive price point of $399,as a solid move for the iPhone business for a few reasons. First, the device compares favorably with competitive products in the $300-to-$500 average selling price smartphone segment. Second, the firm sees it as additive to units, projecting about 18 million to 30 million units for iPhone SE, in calendar years 2016 and 2017, respectively.
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