Image via Apple Stocks App week of 01.10.22 - 01.14.22
When it comes to Apple shares, Piper Sandler analyst Harsh Kumar seems to say, “what’s not to love?” MarketWatch wrote up a note he wrote late last week, wherein he named Apple a good bet in lean times for tech with a whole lot of growth ahead.
Kumar centers most of his Apple thinking around iPhone, as do most analysts. When considering the Cupertino-company, “nothing matters like the iPhone,” in his estimation. And this year looks good for that. Here in the states, carriers are continuing their 5G push, which includes higher subsidies on 5G phones. Kumar says iPhone is still going huge in China, and he is not the only one. Last week, Counterpoint Research pointed to data showing iPhone on top in the middle-kingdom for six-straight weeks. Also - look out for India. The analyst thinks it “has the potential play an increasing role in the years to come,” according to the report.
That’s iPhone tackled. While some think demand for the Mac may cool as the world enters year-three of the pandemic, Kumar thinks expectations around that have been “tempered…” Quoting MarketWatch:
Given the company’s prospects for the year ahead and the volatile tech backdrop, [Kumar] recommended Friday that technology investors “look at Apple as a ‘place to hide’ in the current environment.”
And then we get to the growth stuff. He’s excited about the continued push into healthcare Apple is making through Apple Watch. He’s excited about the prospect of an Apple Car. He thinks those will help push Apple to a $4 trillion valuation.
Mr. Kumar has an “Overweight” rating on Apple shares. He used last week’s note to up Piper Sandler’s price target on the shares from $175 to $200.
