Apple’s products make up a large portion of the list of most wanted gifts for consumers during the holiday season, according to an internal survey by Evercore, the investment bank. AirPods topped the list, with the iPhone in third place, according to the survey. More than 80 percent of respondents said they would prefer to buy an iPhone.
Apple accounted for more than 35 percent of the “must-own” products surveyed. Evercore maintains Apple’s winning rating and a $305 target price.
Apple’s shares continued to hit an all-time high on Monday, rising 2 per cent to $1.26 trillion. Apple’s share price has soared so far this year, up 77 percent so far.
Cleveland Research was optimistic about Apple’s share price rise over the next two years, helped by strong iPhone revenue and its fast-growing wearables business.
“We raised Our revenue forecast to reflect the strong momentum of the iPhone, service business and other products, and we continue to see the potential for further gains in Apple’s share price,” the report said. “Contacts in Apple’s supply chain point out that sales are strong throughout the holiday season.
Cleveland Research gives Apple a buy rating and expects to climb another 15 percent by the end of fiscal 2021.
Apple’s shares were up 1.94 percent at $280.48.