Market Overview

FBR: Apple Will Be A $140-150 Stock Within Nine Months


Fears of the Chinese economy slowing down and the Chinese consumers reducing their spending have weighed on Apple Inc. (NASDAQ: AAPL)'s stock in the last few weeks. However, according to Dan Ives from FBR Capital Markets, even if the fears are true, it won't stop Apple's growth in China.

Ives was on CNBC to make his bullish case for Apple and to share his outlook on the stock.


"How I would really view this is China is a $150 billion market opportunity over the next three years," Ives began. "It's 7 percent penetrated, even if we take a 20 percent haircut to that, I think that incrementally adds 300 to 500 bips  of incremental growth versus the Street for 2016-2017."

iPhone 6s

He continued, "And when you look at the iPhone growth at this point, less than 30 percent have upgraded to a (iPhone) 6. You got 6s coming a week after Labor Day, ultimately goes to 70 percent plus by next year. And then you put this all together, you are looking at a stock trading 8 times ex-cash that's really going into the [...] the next renaissance of its growth cycle."

A White Knuckle

"And look my Uber was negative on Apple today. So, it's going to be very easy, you're firing in a crowded theater here. It's a white-knuckle, period. But ultimately, we think you hit from the black [... who] uses this opportunity where we are six to nine months from now is a $140, $150 stock," Ives concluded.

Latest Ratings for AAPL

Dec 2019MaintainsOutperform
Dec 2019Initiates Coverage OnBuy
Dec 2019MaintainsOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: CNBC Dan Ives FBR Capital MarketsAnalyst Color Analyst Ratings Media


Related Articles (AAPL)

View Comments and Join the Discussion!

Latest Ratings

VIACJP MorganReinstates50.0
NUVASVB LeerinkMaintains92.0
SRPTCantor FitzgeraldMaintains211.0
LULUGoldman SachsMaintains219.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Benzinga's Top #PreMarket Gainers

Dillard's Q2 Profit Beats Estimates