Apple stock rose 2.5% in two days after UBS analysts David Vogt and Munjal Shah issued a recommendation to buy and especially revised targets: 142, then 187 dollars, while the stock fell. currently trading at $ 123.
Apple stock: UBS sets very high targets
In the opinion of the two UBS analysts, Apple shares have great potential, which the market is struggling to see. According to David Vogt and Munjal Shah, the stock is 18% undervalued. Trading at $ 119.90 at the time of publication of their review on March 31, 2021, the stock has valued at $ 123 as of this writing. And this is just the beginning: according to the two analysts, the fair price would be at 142 dollars. Also, if the stock manages to stay above that level, the next target is $ 187.
David Vogt and Munjal Shah recommend that UBS clients “bite the end of the big apple”, the decline in the share observed since the end of January 2021 constituting a good buying opportunity. Indeed, after a peak at 143.16 dollars on January 26, 2021, the Apple title has continued to decline to reach 119.90 dollars at the time of the issuance of the recommendation.
Growing 5G Availability Expected to Support iPhone Sales
According to the two analysts, iPhone sales are expected to total 220 million in 2021, or 5 million more than their previous opinion. This year, sales should be supported by the desire of consumers (mainly Chinese) to equip themselves with 5G smartphones. David Vogt and Munjal Shah also recall that Apple’s desire to build an autonomous car is intact, even if the apple brand does not communicate on the subject.
In January 2021, Apple released record results, with revenue of 111.44 billion euros and profit of 28.76 billion. Currently, 82 analysts recommend the stock for purchase, 15 say they are “neutral” and only 3 recommend selling it.