With Apple at $315, Nomura raises Apple target to $280

From a note to clients by analyst Jeffrey Kvaal snagged by TheFly:

Nomura Instinet analyst Jeffrey Kvaal raised his price target for Apple to $280 from $225 while keeping a Neutral rating on the shares. Strengthening iPhone demand through fiscal Q1 and “sturdy” first half of the year orders imply the iPhone 11 cycle will remain solid through fiscal 2020, Kvaal tells investors in a research note. Further, Wearables “should add some icing to the cake,” adds the analyst. Kvaal, however, questions the enthusiasm for a 5G supercycle that he says has lifted Apple’s multiple to 21 times. “We are as yet unwilling to go further” on the price target, he says.

Maintains Neutral rating, raises price target to $280 from $225.

Updated chart: Moving targets…

nomura apple target 280

3 Comments

  1. David Drinkwater said:
    If the word “Kvaal” is anything like the German word “Qual”, which would be a sound-alike from Teutonic language, watch out:

    “Qual” means pain, suffering, torment.

    Probably not a recommendation that I would recommend.

    1
    January 17, 2020
  2. Gregg Thurman said:
    Kvaal, however, questions the enthusiasm for a 5G supercycle that he says has lifted Apple’s multiple to 21 times.

    And not a mention of Apple’s most important growth engine going forward. He’s still counting iPhones.

    I wouldn’t trust Kvaal to predict that the sun will rise tomorrow.

    This sudden rise of AAPL has exposed all those analysts that have been holding AAPL back all these years. Thankfully the market is ignoring guys like this. Kvaal price target and rating released – pre-market rises to $317.

    1
    January 17, 2020
  3. Jerry Doyle said:
    Reminds me of the Paul Simon lyrics:

    Slip slidin’ away,
    Slip slidin’ away,
    You know the nearer your destination,
    The more you’re slip slidin’ away.

    2
    January 17, 2020

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