Apple Stock Gets Price-Target Hike On Stable iPhone Demand

Wedbush Securities analyst Daniel Ives reiterated his outperform, or buy, rating on Apple stock. He also upped his 12-month price target to 190 from 180.

“Our Asia iPhone supply chain checks this week have been incrementally more positive, with a modest uptick in demand coming out of China for Apple with a clear demand rebound happening in this key region post-December despite the uncertain macro backdrop,” Ives said in a note to clients.

Apple Stock Rises After Report

“We are seeing no major unit cuts from suppliers in Asia around iPhone production yet, which is a good sign that shows a steady demand curve,” Ives said.  READ MORE