JP Morgan "Expecting 2022 Performance Boosted by iPhone 13"
AppleInsider, Citing Investor Letter
[Asia Economy Reporter Minyoung Cha] Apple is expected to record record-breaking profits in 2022, driven by new smartphones such as the iPhone 13 and iPhone SE.
IT specialist media AppleInsider reported this on the 13th (local time), citing an investor letter from Sameek Chatterjee, an analyst at investment bank (IB) JP Morgan. The 12-month target price for Apple was set at $180.
Apple will hold an event at 10 a.m. (local time) on the 14th at its headquarters in Cupertino, California, USA. In addition to the new iPhone 13 series, AirPods 3 are also expected to be unveiled at this event.
Sameek Chatterjee explained, "Apple has already led the fourth quarter quite conservatively," adding, "I believe it can still meet the conservative guidance based on the momentum of iPhone 12, MacBook, and iPad sales."
He added, "In 2022, the iPhone 13 and iPhone SE models will surpass or match the 2021 sales, which recorded the highest sales of 5G smartphones."
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However, he also noted that as COVID-19 restrictions ease, it will be difficult to sustain the current growth rate in the 30% range in the future, indicating a potential slowdown in service growth.
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