Image via TipRanks
Perhaps serving as more bear repellant for Apple investors - whatever Apple has planned for today. Like just about every Apple watcher, Wedbush analyst Daniel Ives expects Apple to announce an updated iPhone SE during today’s “Peek performance” event. And he thinks it could be huge for the company. Apple 3.0 ran part of a note he wrote. According to that:
The highlight of the virtual event this week will be the iPhone SE starting likely at $399 price points with a new A15 Bionic chip and 5G capability. We do not expect major hardware design changes, as the Apple chip upgrade and 5G will be the headline of the event to further catalyze upgrades during this massive iPhone 13 led product cycle.
And when he says “catalyze,” boy does he mean it. Quoting his note again:
We estimate this new iPhone SE can translate into 30 million+ incremental units over the next year as globally there is pent up demand for this next SE based on recent supply chain checks. For the low price point and new specs/speed with multiple storage capabilities (64GB, 128GB, and 256GB), we believe the value proposition for consumers is a “standout” relative to competitors and could translate into some further Android share gains…
Well, that would make it a catalytic converter. Despite uncertainty in the markets, driven largely by brutality in Ukraine, Ives says he and his “believe Apple is a safety tech name to own during this market storm.” Quoting his note one more time:
We view Apple as both a Rock of Gibraltar defensive tech name as well as the best 5G tech play in the market with a massive product cycle that is gaining more steam along with its valuable services business which is being undervalued by the Street in our opinion.
Mr. Ives has an “Outperform” rating on Apple shares. His price target on the shares is $200.
