Wedbush Notes Strength for iPhone 14, Praise for Apple’s CEO
30 AUGUST 2022 - A note of praise for Apple and its CEO from Wedbush analyst Daniel Ives on Monday. Apple 3.0 ran part of a note he wrote, wherein he predicted strength for iPhone 14, with a side of “can you believe Cook & Co. pulled it off?” On the phone, the analyst says he and his:
Are still looking for a 90-million unit launch, about even with last year’s iPhone 13 launch
Believe Pro/Pro Max phones will see a price increase of $100
See a run of about 220-million upgrades in FY2023, driven by pent-up demand, though held down a bit by general macroeconomic concerns
As for the praising, Ives note says:
Despite the zero Covid shutdowns in China that disrupted the Asia supply chain across the board in March-May and caused some white knuckles on the Street, [Apple CEO Tim] Cook yet again navigated Cupertino through the storm and now is set for another flagship iPhone 14 upgrade cycle…
Mr. Ives has an “Outperform” rating on Apple shares. His price target on the shares is $220.
