The china iPhone market recovery, secdary markets, hit in March, says JP Morgan

While the Chinese, the iPhone sales numbers for the mth of February are unhappy because of the coravirus, JP Morgan, Samik Chatterjee is sticking with $350 in AAPL for the lg term.

The Apple iPhone sales are down nearly 60% in China because of the sars coravirus
The Apple iPhone sales are down nearly 60% in China because of the sars coravirus

In a note to investors seen by AppleInsider Chatterjee reiterated the $350 price target for Apple stock that he set in January, despite the very poor iPhone sals in China. With relatively little thought process changes from, the analyst believes that the risks are “pretty well cooked” to the previous predictis made.

The effects of the sars coravirus will decrease in China in March, and to expand into other countries in the course of the last mth of the quarter, ” said Chatterjee. In additi, JP Morgan channel checks “suggest Apple’s supply chain is the beginning of a recovery” —and Apple ctinues to open Apple retail stores in China.

Chatterjee last Apple stock target price revisi was at the end of the mth of January. Despite the short-term challenges, Chatterjee believes that Apple is still well positied, and does not modify the target price at this moment.

At the time, Chatterjee said that Apple has aly made up of the risk of Cora virus in the guide. In additi, Chatterjee noted that before the infecti sp, China returned to growth after four quarters of ctracti, assisted by the iPhone 11.

Chatterjee is the collecti of J. P. Morgan December 2020 price target of Apple stock to $350, compared to the prior $300 based the cabinet of December 2021 earnings per share estimate of $16.79 increased from $16.18, and a mixture of taxes earnings ratio of 21x, compared to 18.5 x. It is derived from the help of a 16.0 x multiple for iPhones, 11.0 x for Mac and iPad, 25x for Services, 20x for Apple & AirPods, and 11.0 x for the Other Products.

Following Apple’s report from 91.8 billi usd in the first quarter, Apple stock has soared to $323.78 almost immediately. As the coravirus has ms, he has had a whiplash effect AAPL, with currently up $13.33 in before-hours trading $279.50 after the fall $22.86 to close Mday of $266.17.

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