Apple (AAPL) iPhone 11 Demand Appears Healthy Since Launch - Cowen

Cowen analyst Krish Sankar reiterated an Outperform rating and $250.00 price target on Apple (NASDAQ: AAPL) on the belief that initial demand for the iPhone 11 is healthy since the 9/20 launch and a potential low-cost "SE2" model in C1H20 increases the prospect of iPhone unit growth in 2020.

The analyst stated "Our sensitivity analysis suggests C4Q19 iPhone sell-in of 70M could drive 9% EPS upside in the Dec Q vs our 62.5M baseline; and 25M iPhone SE2 units could be slightly dilutive to +4% accretive to FY20 EPS". He went on to say "Our initial iPhone sell-in forecasts for C3Q19 / C4Q19 are 42.5M / 63M, and compares to our build estimates of 47M / 65M. If all C2H19 builds were to be recognized as sales by year end, then in theory this could represent unit upside of 7M in the Dec Q".

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $227.42 yesterday.

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