Wedbush analysts Daniel Ives is shinning some light through a very dark tunnel as uncertainity still rests around the world about the future of the market, and about Apple.
In a new report today, Ives says the iPhone 12 will jumpstart Apple’s “road to recovery” when it’s released in the fall. However, the certainty of when is highly unknown. Report after report indicates the long-awaited handset is delayed, adding doubts if it’ll arrive in September like normal.
Ives does throw his hat in the ring saying he only sees a 10 to 15% chance that the iPhone 12 will launch in October, but still expects strong demand, but fewer sales due to people delaying smartphone upgrades.
Ives also raised his price target for Apple, from $335 to $350, which helped Apple’s premarket share go up by 0.6% on Monday. Finally, Ives says that the worst is over for Apple from a demand and supply chain perspective, offering no real solutions to what that meant.