When Apple (AAPLReported financial Q3 2021 earnings at the end of last month, beating its biggest earnings in a recent memo. Instead of the $ 1.01 per share that analysts had predicted, Apple made a solid 1.30, which was a “earnings” of 29% – but one analyst thinks this may just be the beginning.
JPMorgan analyst Smack Chatterjee raised his price target on Apple stock by 5 – which is now 180 180 per share, 20 percent higher than current prices – and “overweight” on shares to boot. “Repeated rating. (To view Chatterjee’s track record, Click here)
Chatterjee says investors have “low expectations” for both iPhone sales and the coming fiscal year 2022 (less than three months from now), but 5-star analysts say “more than one catalyst” by the end of this year. “(Therefore Q1 of fiscal year 2022) which may change this calculation.
Which catalyst, you ask? Well, the “upcoming iPhone 13 launch,” for one, helps the Chatterjee calendar year 2022 drive iPhone sales to 246 million units (equivalent to the expected 2021 sales).
According to Chatterjee, the upgrade to the iPhone 13 may not be as strong as the upgrade to the iPhone 12. However, analysts predict that “more volume for the lower ASP, but the iPhone SE for 5G will be launched in CY22,” which could increase the total number of iPhone units Yes, regardless [to consensus estimates] Looking for a more affordable 5G device through a major install base upgrade.
According to Chatterjee, the increase in sales of iPhones of all stripes means that in FY2022, the rest of Wall Street has 2% more revenue and 7% more profit than expected. And he explains the consensus numbers above that the market for 5G-enabled iPhone SE phones is generally the “low-cost driver” for both iPhone sales and revenue and profits for Apple.
Talking about which, Chatterjee is a quick scan of what is happening with Apple’s earnings and profits in the next few years: Will meet with In fiscal 2022, sales will increase by 5% to 38 385.5 billion, followed by an increase of about 7% in fiscal 2023 to 12 412 billion. However, revenue growth will accelerate, with “better implementation of the product cycle” and increased sales of high-margin services both boosted. Chatterjee predicts that adjusted earnings will fall from just 7% to 6 6 per share in FY 2022, followed by an increase from 9% to 6. 6.55 per share in FY 2023.
Overall, with 26 analyst reviews on record, divided into 19 purchases, 5 holdings, and 2 sales, AAPL has a moderate buy consensus rating. The stock is priced at $ 150.38 and their قیمت 162.32 average price target indicates فیصد 8% above this level. (See AAPL stock analysis on TipRanks)
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Disclaimer: The views expressed in this article are those of the analyst only. The content is intended to be used for informational purposes only. It is important to do your own analysis before making any investment.