Piper Jaffray analyst Gene Munster was recently on CNBC discussing Apple Inc. (NASDAQ: AAPL).
The highlights from the interview include the following:
iPhone demand is outpacing supply; many stores run out of supply by the end of the day, which can cause people who want an iPhone to wait. This could drive demand through the March quarter.
Apple watch expectations, meanwhile, are relatively low. They will likely get "hyped up" as launch nears closer.
Munster expects 2016 to be an "up" earnings year. Rolling multiples forward, a price target of $150 on Apple is not unrealistic, he said.
He also believes Apple has not intentionally restricted iPhone supply; demand is simply outpacing supply.
Latest Ratings for AAPL
|Jan 2017||Barclays||Downgrades||Overweight||Equal-Weight |
|Jan 2017||OTR Global||Downgrades||Negative |
|Jan 2017||Guggenheim||Initiates Coverage On||Buy |
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