Wells Fargo analyst Aaron Rakers is excited about Apple, and he’s upped his price target on the company to show it. Barron’s (via Apple News) had the analyst issuing a note on Friday, looking for Apple CEO Tim Cook and Apple CFO Luca Maestri to accentuate the positive on this week’s call with analysts. Quoting Commander Rakers:
We expect a focus on any commentary supportive of a belief that the supply chain is improving, continued confidence in strong end-user demand across the portfolio, as well as services/subscriptions momentum…
Supply chain improvements would certainly be good news near term, though Rakers & Co. are looking a few days past tomorrow. Quoting his note again:
We believe the investment case for Apple has more to do with the company’s monetization of the installed base through an expanded portfolio of products and services (e.g., augmented reality /virtual reality, auto), rather than the near-term setup…
Rakers has a positive rating on Apple shares. He used Friday’s note to raise his price target on Apple shares from $165 to $205.
(Probably) More Where That Came From
Expect a spate of analyst notes this week, headed into Thursday. That’s because Thursday is when Apple will report earnings for the Q1FY2022 - aka the December-quarter. Numbers will hit Apple’s site after the close of trading at 1:30 Pacific/4:30 Eastern. Then the call kicks off at 2PM/5PM… remainder Christmas candy to be served after.
You can stream it as it happens on Apple’s Investor site. The company will make it available as a podcast soon after. Bloggers will Blog. Twitters will tweet. Highlights will be hit here the day after the call.
