Apple (AAPL) Datapoints are Beginning to Improve - Nomura/Instinet

Nomura/Instinet analyst Jeffrey Kvaal reiterated a Neutral rating and $295.00 price target on Apple (NASDAQ: AAPL) noting that supply and inferred demand datapoints from China suggest that the worst impacts of COVID-19 may now be passing. China based colleagues provided company specific anecdotes to support the concepts that China production numbers likely bottomed in February and Chinese smartphone OEM orders to suppliers appear to have have picked up.

The analyst considers these points a near-term positive for Apple and local analyst, Manabu Akizuki expects "increased production for the overall smartphone market in April and beyond". Additionally, another local analyst, Anne Lee, expects a sharp pickup in the component supply chain in April. She believes that "Chinese vendors Xiaomi, Oppo, and Vivo have increased orders, and logistical disruptions are easing. Potential reasons for this include better-than-expected sell-through, inventory stocking ahead of upcoming
releases, and/or overbooking due to component tightness".

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $280.18 yesterday.

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