Apple (AAPL) PT Raised to $180 at Guggenheim

Guggenheim raised its price target on Apple (NASDAQ: AAPL) to $180.00 (from $150.00) while maintaining a Buy rating.

The analyst comments (emphasis ours) "Key drivers are our expectation for both iPhone unit growth and ASP increases to reaccelerate over the next 2 years (compounding leverage), but also the limited supply of new OLED displays to extend the cycle's timeline over 2-3 years. Adding OLED to just a new higher-priced flagship iPhone X this year then buys Apple another 1-2 years of follow-on cycling as it migrates OLED into lower end models. And 3D sensing technology opens up a whole new potential vector of differentiation and hardware+software innovation. We increase our FY17E revenue and EPS estimates to $229B (+6%Y/Y) and $8.87 (+7%Y/Y), from $226B/$8.71, and FY18E to $264B (+15%Y/Y) and $10.70 (+21%Y/Y) from $245B/$9.82."

You May Also Be Interested In

• KGI Securities Downgrades Apple (AAPL) to Hold
• AmerX Starts Serve Robotics (SERV) at Buy
• Apple investigating exposure to Tata Electronics data breach, full analysis underway - Reuters