Wedbush Sees Sharp Upside On Apple

Wedbush analyst Daniel Ives keeps an Outperform on Apple Inc AAPL and $185 price target, implying a 17% upside.
Ives sees shortages in many Apple stores, with the iPhone 13 Pro in Sierra Blue and Gold the most popular models.
Ives estimates Apple is on pace to sell more than 10 million iPhones for Black Friday weekend and sell about 40 million iPhones between this Black Friday weekend and Christmas.
Despite the lingering chip shortage limiting iPhone supply globally, this would be a record holiday pace for the company if his estimates are accurate, said Ives, who calls his expectations "bullish" for the company's fiscal Q1 results.
Price Action: AAPL shares traded lower by 2.36% at $158.12 on the last check Friday.