It’s September, and you know what that means, it’s time for another Apple (AAPL) Product Announcement Event. The tech giant’s grand product will be revealed online on September 15.
Writing for Deutsche Bank, analyst Jerial Ong was surprised by the notion that new iPhones would be announced during the event as AAPL had already stated on the latest conference call that the release could come “a few weeks later”. Analysts basically explain “iPhone delays will also mean delays for any specific September media event.”
While this report will focus on bundles of iPads, Watch and Services rather than iPads, Ong has not “confirmed or denied” based on its checks that “the iPhone will not be discussed at the event.”
“Overall, we are saddened that the announcement of iPhones will be made so soon as it will be a month or more ahead of our expectations when the sale of the 5G iPhone can begin based on AAPL’s comments, a month earlier. Slightly higher than. That being said, we can look at next week’s event as a teaser of sorts for an iPhone-centric event in September or early October, “commented Ong.
Even though iPhones may come later than usual, Ong believes that phones will be physically delayed based on supply-chain related news. “Nikkei reported today that the first 5G iPhones will begin production in mid-September, suggesting that mid-October is definitely on track,” Ong said.
Adding to the good news, Ong argues that “iPad and Mac orders continue to grow stronger by working from home / learning from home trends, and we are reporting a stronger-than-seasonal iPad / Mac segment from AAPL Let’s expect as the backlog of the product returns to normal. AAPL observes a specific fall ‘back-to-school’ trend, in which both segments should grow. “He added,” In this context, a new iPad Air The high cost that captures the features of the iPad Pro can be a welcome addition to the iPad family of products. “
All of this prompted Ong to leave his bull call and $ 140 price target unchanged. This target reflects AAPL’s ability to climb 21% higher over the next year. (To see Ong’s track record, Click here)
Given the consensus breakdown, the bulls reflect the majority. In the last three months, 25 Buys, 7 Holes and 3 Cells have been published. Therefore, AAPL gets a moderate buy consensus rating. With an average price target of $ 119.51, Street expects shares to remain range-bound for now (see Apple stock-price forecast on TipRank)
Disclaimer: The opinions expressed in this article are purely selective analysts. Content is to be used for informational purposes only. It is very important to do your own analysis before making any investment.