In a new note to investors, Brean Capital analyst Ananda Baruah has continued to praise the value of Apple shares, maintaining the same target price and reminding investors of the “longterm” success of the iPhone. In short, despite Wall Street qualms surrounding Apple stock, Brean Capital’s advice remains the same: that, essentially, investors should continue to invest in the Cupertino-based company.
In the note, which was provided to AppleInsider, Brean Capital’s Baruah said that this target price remains sound despite Apple’s “noisy” supply chain, and regardless of the “materially low” expectations Wall Street has for the company through 2017.
You see, the analyst predicts iPhone growth of more than five percent, despite Wall Street’s expectation that iPhone shipments will slip between three and five percent. The reason for the continued success of the iPhone, Baruah notes, is the forthcoming four-inch device: Apple’s “iPhone 6c.”
Specifically, Baruah believes Apple shipped about 233 million iPhone units in calendar year 2015, which he sees growing to about 250 million in 2016. He sees Apple’s sales being boosted next year by the debut of a new 4-inch iPhone, which he believes could provide as many as 30 million incremental units to the year if it launches in the March-to-April timeframe.