Raymond James Raises Price Target on Apple to $160

Chris Caso of Raymond James discusses Apple's raised price target and outperform rating, highlighting the company's strong performance despite pandemic challenges. He emphasizes the significance of the 5G cycle, which is expected to last two years, and the importance of future developments. The discussion also covers the challenges in valuing Apple due to market volatility and the company's transition from a hardware to a services-oriented business.

What was a significant factor in Apple's impressive quarterly revenue despite the pandemic?

• Store openings

• Delayed phone release

• Increased online sales

• New product launches

According to Chris, why is the 5G cycle expected to last two years?

• New phone models are released every year

• Consumers are not interested in 5G

• Global 5G coverage is already complete

• Many regions still lack 5G coverage

What is a key reason consumers are willing to pay more for Apple's higher-end models?

• Discounted prices

• Limited availability

• Higher quality and features

• Better marketing strategies

What challenge does Chris mention regarding valuing Apple in the current market?

• Predicting future product launches

• Determining the correct valuation multiple

• Analyzing competitor strategies

• Understanding consumer preferences

How has Apple's business model evolved according to Chris?

• From a software company to a hardware company

• From a retail company to an online company

• From a hardware company to a services company

• From a services company to a hardware company