Apple stock will rise and fall on iPhone 8 rumors and demand for some time to come, and one firm now says it’s factoring in a multi-year cycle for this year’s models, based on the rumor that there will be three of them. It also boosted its price target for Apple stock by $15 per share on greater expectations for the iPhone 8.
Meanwhile, another firm has taken a contrarian view and advises investors to sell Apple stock due to the company’s heavy reliance on Chinese suppliers.
RV Capital Co-Investor Letter for the first half ended June 2022. Q2 2022 hedge fund letters, conferences and more Dear Co-Investors,
A longer iPhone 8 cycle
In a note dated Jan. 19, Bank of America Merrill Lynch analyst Wamsi Mohan raised his price objective for Apple stock from $125 to $140 and reiterated his Buy rating. They’re looking for an iPhone 8, iPhone 7s and iPhone 7s