Apple upgraded to Buy by Loop Capital over iPhone demand

Apple (AAPL) receives an upgrade from Hold to Buy by Loop Capital, raising its price target on the iPhone maker from $170 to $300 per share over its AI prospects. Market Domination’s Julie Hyman and Josh Lipton examine the analyst notes from Loop Capital and Morgan Stanley citing the company’s consumer position in India and its Apple Intelligence initiatives.

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This post was written by Luke Carberry Mogan.

Video Transcript

Let’s get to our call of the day.

Good day for Apple, the tech giant getting an upgrade from loop capital to buy and Loop is also raising its price target along with another price target raise from Morgan Stanley.

Those Apple shares are trading at a record today.

Loop capital’s price target of $300 is the highest one on the street.

And the analyst there is making this judgment.

The analyst, by the way is Ananda Bara is making this judgment based on supply chain checks that show strong demand for the next generation iphones um that are sort of evidence through the supply chain checks.

And he like Eric Woodring over at Morgan Stanley says it does have to do with A I here and the demand that they expect because of that.

Yeah, loop is really interesting though basically talking about how um really A I they say is gonna help Apple solidify as consumers gen A I what they call a base camp of choice just as it did for social media 15 years ago with iphone and digital content consumption 20 years ago with ipad.

Also another interesting story, Julie was uh Bloomberg signing sources.

Apple’s annual sales in India hit a record of almost 8 billion revenue jumped about 33% in the 12 months through March.

Of course, Apple, we know it has been very focused on India, kind of looking to diversify beyond China.

That was an interesting headline as well.

Yeah, all of it, interesting for sure.

Um One of the numbers that stood out to me, by the way from Wood R’s Note is that Apple, he’s predicting will ship almost 500 million iphones over the next two years, which would be higher than the cycle it saw in 2122.

And again, he like, um, Barre thinks it’s gonna be A I spurred on by demand for A, I get your hands on those new A I enabled iphones, I guess.

Ok.