Apple (AAPL) PT Raised to $166 at UBS, Estimates Now Above Consensus

July 20, 2021 6:10 AM EDT
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Price: $145.37 -1.05%

Rating Summary:
    44 Buy, 20 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 9 | Down: 10 | New: 35
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UBS analyst David Vogt raised the price target on Apple (NASDAQ: AAPL) to $166.00 (from $155.00) modeling stronger iPhone unit growth.

The analyst reiterated a Buy rating, stating "Based on strength in iPhones in what is typically a seasonally slower quarter and better Mac sales despite supply chain headwinds, we are raising our FY3Q21 revenue and EPS estimates to $74.7B and $1.01 from $71.3B and $0.95, roughly 1% above street consensus. Although our new estimates are only 1% above street consensus, further upside is likely gated by macro supply chain issues, not demand."

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