Apple has launched the iPhone 11 series months ago, which record a massive sell all over, but the big question lies here – how well it has iPhone 11 series sold this year?
JPMorgan Analyse The Amount Of IPhone 11 Sold Since Its Launch As He Chase Expects Apple’s Share Price To Skyrocket
Fortunately, JP Morgan Chase has raised its target price from $ 243 to $ 265. It is expected that the stock price will rise to 21% and give overweight rating.
In response, an analyst at JPMorgan, Samik Chatterjee said that the estimated sales of the iPhone will be sufficient to lift, and investor sentiment on Apple’s stock is expected to increase significantly.
It also increases the sales expectations for the 2020/2021 calendar year, mainly due to expectations that Apple will launch a product line 5G-enabled iPhone in September 2020.
JPMorgan Chase currently expects shipments of Apple’s iPhone in the third quarter to 1 million higher than previous estimates, and delivery in the fourth quarter of this year will be 3 million higher than previously estimated.
Apple will sell 198 million iPhone, which supports 5G in 2020; 5G iPhone sales in 2021 will reach 200 million.