Faced with fresh data from China that showed Apple fare much better than the overall market during December, Credit Suisse is boosting its price target on shares of the iPhone maker to $275 but holding firm on its neutral rating.
China, the world's largest smartphone market, has been nothing short of a moving target for Apple. A salvo of shots fired by top analysts this week only evidences one thing: the only near-term certainty with Apple and China may be more uncertainty.
Apple is expected to significantly decrease the size of iPhone's TrueDepth "notch" in 2020, modifying or potentially removing the divisive design feature with the help of a smaller camera, according to noted analyst Ming-Chi Kuo.
Initiating coverage on Apple, Credit Suisse says that the slowdown in sales of the iPhone is expected to continue throughout 2019, with the smartphone business said to be in a "difficult spot" due to longer device lifecycles and a loss of effectiveness of price rises on revenue.
Global smartphone production is continuing to fall and will do for some time, according to analysts for Credit Suisse, with the investment bank forecasting production in the first quarter of 2019 for all manufacturers including Apple will fall to a level last observed in 2013.
Analysts on Wall Street are increasingly expecting an incremental iPhone hardware update this year, which has led some to turn their sights to a rumored 2017 handset revamp in hopes of pushing Apple stock to new heights.
The average middle-class American will spend roughly $481 each year on Apple products by 2015, up from $321 this year, while emerging middle-class consumers in developing markets will drive substantial growth for the company in coming years, according to a new analysis.
Posing the question of whether Apple is the "most valuable company in the world," Credit Suisse on Thursday initiated coverage of the iPad maker with a $500 price target, saying it believes Apple is well positioned to command a majority share of a booming tablet market expect to grow to $120 billion over the next four years.