Apple Inc. is poised to see “upside” if it can execute and show the growth that it saw in its fiscal first quarter, according to J.P. Morgan analyst Samik Chatterjee.
Chatterjee has an Overweight rating and a $210 price target. The price target implies an upside of 27.4 percent.
“We see the combination of stronger than expected mix as well as volume upside from better iPhone 13 as well as iPhone SE demand to drive upside to our current estimates for modest revenue growth (+4 percent y/y),” Chatterjee added.
Bank of America selected Apple as one of the stocks that could benefit from “scarcity risk” as its devices and services continue to be a primary solution for entertainment and productivity tasks.
By Anusuya Lahiri
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