Piper Jaffray Says Apple (AAPL) Demand is Key, Not Supply
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Piper Jaffray analyst Gene Munster said Thursday that investors should not worry about the potential for supply-chain shortages and instead focus on the immediate impact of demand for the iPad 2 and other products.
“Historically, calls based on supply-side concerns have led investors astray, but demand for Apple’s products continues to rise," Munster said.
Munster did says that the Apple will see component delays for its iPhone 4 and iPad 2 through the June quarter, mainly those supplied by Mitsubishi Gas Chemical Co., which has shut down production temporarily to assess damage following last week's earthquake and tsunami.
Munster reiterated an Overweight rating on Apple with a price target of $483.
“Historically, calls based on supply-side concerns have led investors astray, but demand for Apple’s products continues to rise," Munster said.
Munster did says that the Apple will see component delays for its iPhone 4 and iPad 2 through the June quarter, mainly those supplied by Mitsubishi Gas Chemical Co., which has shut down production temporarily to assess damage following last week's earthquake and tsunami.
Munster reiterated an Overweight rating on Apple with a price target of $483.
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