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Technology Stocks : Apple Inc.

AAPL 278.28

+0.1%

Dec 12 9:30 AM EST

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From: Moonray	5/28/2020 11:57:40 AM
	of 213176

JPMorgan bullish on Apple on India potential, September launches By: Clark Schultz, SA News Editor - May 28, 2020 JPMorgan lifts its price target on Apple ( AAPL +0.6%) to $365 from $350 on its view the iPhone SE will be a panacea for troubles in India. "The recent launch of the iPhone SE, with a strong value positioning, is set to expand Apple's addressable opportunity in emerging markets, particularly in markets like India," updates analyst Samik Chatterjee. Chatterjee and team estimate if Apple can capture roughly half of the 30M to 35M Samsung users in India, it would translate into a 215M steady annual replacement runrate for iPhones globally and a ~$7B revenue or ~$0.70 of EPS upside. JP is also confident that Apple is on track for iPhone launches in September. "Our recent supply chain checks highlight key milestones relative to verification testing are on track for iPhone launches in September, in addition to no major component bottlenecks. Pre-order and shipping dates might differ modestly for certain models. Delay risks remain, but largely from incremental disruptions," reads the AAPL note. The firm's price target on Overweight-rated Apple of $365 is comfortably ahead of the average sell-side PT of $314.65. o~~~ O

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