Apple's (AAPL) - Get Apple Inc. Report higher-end iPhone 12 Pro, which starts at $999, garnered positive commentary from J.P. Morgan analyst Samik Chatterjee on Thursday, based on the firm's availability tracker.
"Even as iPhone 12 Pro lead times have moderated on the same lines as other SKUs, aggregate lead times for 12 Pro still remain quite robust and above 20 days, implying continued robust demand," Chatterjee wrote in a commentary cited by Seeking Alpha.
The analyst kept his overweight rating and $150 price target on Apple. Shares of Apple recently traded at $132.58, down 0.85% and have surged 81% year to date.
Also, Wedbush analyst Daniel Ives wrote in a note earlier on Thursday that iPhone 12 momentum is going strong, with “super-cycle reality meeting hype” for the company’s latest smart phone.
“Our Asia supply chain checks for iPhones continue to be incrementally bullish around iPhone 12 5G demand and have now exceeded even our bull case scenario for units in FY21,” Ives wrote.
That’s “a major positive for shares over the coming months,” Ives said. And it’s not just iPhones. For the holiday season, Apple “also had a strong Air Pods performance that will be another product tailwind heading into 2021 for [Chief Executive Tim] Cook & Co.”
Ives maintained his outperform rating and $160 price target on Apple shares.
Meanwhile, iPhones dominated Christmas, the biggest day for new smartphone activations, according to Flurry, an app analytics firm.
Apple iPhones took the top nine spots in activations, with last year's iPhone 11 placing first, followed by the iPhone XR, iPhone 12 Pro Max, iPhone 12, iPhone 11 Pro Max, iPhone SE, iPhone 12 Pro, iPhone 8 Plus and iPhone 8. LG’s budget K30 placed tenth.