Evercore ISI analyst Amit Daryanani has maintained their bullish stance on AAPL stock, giving a Buy rating yesterday.
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Amit Daryanani has given his Buy rating due to a combination of factors including the anticipated launch of the fourth-generation iPhone SE. This new model is expected to feature significant hardware upgrades, such as insourced baseband and combo chips, which could enhance Apple’s gross margins despite potential increases in DRAM costs.
Additionally, the slightly higher price point of the iPhone SE remains attractive compared to the average selling price of Apple’s other iPhones, potentially driving strong sales in both established and emerging markets. These developments, coupled with expected revenue contributions from the new SE model of around $12 billion, provide a solid basis for the positive outlook on Apple’s stock.
In another report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $294.00 price target.