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Ahead of Apple’s iPhone 12 Launch, Top Analyst Says ‘Buy’

AAPL) way. According to Wedbush analyst Daniel Ives, there finally appears to be some clarity regarding the highly anticipated launch of Apple’s flagship product, the iPhone 12 – its first to boast 5G capabilities.” data-reactid=”12″>Some good news just came Apple’s (AAPL) way. According to Wedbush analyst Daniel Ives, there finally appears to be some clarity regarding the highly anticipated launch of Apple’s flagship product, the iPhone 12 – its first to boast 5G capabilities.

“While we were hearing of some delays over the past few months that would have pushed this key product cycle into the October/November timeframe, we now believe the iPhone 12 will be in late September with the smartphones ready to hit the shelves globally in early October,” said Ives.

Ives was previously under the impression Apple was likely to push the launch back to the holiday period, on account of COVID-19’s impact on the global supply chain and the resultant depressed economic climate.

However, the supply chain’s “impressive” return to normalization paves the way for Cook & Co. to kick off the 5G cycle as previously planned.

Ives believes “there are 4 models being launched for iPhone 12 with a mix of 4G/5G with price points that potentially could be lower than $1,000 on some versions despite the additional 5G component.”

As far as the 5G element is concerned, the US version will boast mmWave technology. Over the last month, Apple and its suppliers have smoothed out some lingering technology issues which is a “clear positive heading into this pivotal launch.”

With the launch only a few months away, Ives summed up, “From a demand perspective, we estimate that ~350 million of Apple’s 950 million iPhones worldwide are in this upgrade window which remains the linchpin to our longer-term bullish thesis and 5G super cycle for Cupertino over the next 12 to 18 months.”

click here)” data-reactid=”19″>To this end, Ives rates AAPL an Outperform (i.e. Buy) along with a $375 price target. (To watch Ives’ track record, click here)

See Apple stock-price forecast on TipRanks)” data-reactid=”20″>So, that’s the Wedbush view, what about across the Street? Apple has a Strong Buy consensus rating based on 28 Buys, 4 Holds and 1 Sell. However, with Apple only recently notching an all-time high, the average price target of $336.46 now implies possible downside of 5%. (See Apple stock-price forecast on TipRanks)

Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.” data-reactid=”29″>To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

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