Another Apple target has hit the 200-mark. On Tuesday, The Fly wrote up a note from Deutsche Bank analyst Sidney Ho. The analyst says consensus has Wall Street expecting revenue growth for Apple of 5% in 2022. That expectation is too low, in Ho’s estimation, taking a “healthy demand backdrop” and “strong” set of products into account. Then, add the sales Apple missed due to supply constraints in the December-quarter that are expected to be made up this quarter, especially as Apple untangles kinks in the supply chain. The Fly says the analyst expects “an upward bias to Apple's estimates as we go through the year.” He also thinks the company’s shares will “benefit from a flight to quality in an inflationary environment.”
Ho has a “Buy” rating on Apple shares. He used Tuesday’s note to raise Deutsche Bank’s price target on the shares from $175 to the aforementioned $200.
