Apple (NASDAQ:AAPL) is not part of the Consumer Electronics Show, but it’s clearly not far from the minds that are focusing on the annual tech gala. According to Insider Monkey, Topeka Capital analyst Brian White told CNBC on Monday that data from the CES gave him even more reason to be bullish on the iPhone maker. White has a $1,111 price target on Apple, which happens to be more than 50 percent higher than Wall Street’s average of $740.
“Last year, [the CES] had forecast growth of 4 percent in consumer electronics … For the coming year, they expect a 4 percent growth … and really the two areas of growth are going to be tablets — 25 percent — and smartphones — 22 percent.”
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This scenario, the analyst said, played right into the hands of Apple, which may additionally be looking at growth from the arrival of multiple new kinds of iPhones in the middle of this year.
“I think, you know, maybe it won’t be an iPhone mini right out of the bat, but I think a different form factor of iPhone we’ll see sometime in June … I think you’ll see a smaller, and a bigger; so you might see a premium iPhone, and a cheaper iPhone. One of the thing you’ll see at CES this week, are as what we call, the embarrassingly large smartphones … I’m seeing this trend in Asia and I think that’s something Apple has to address.”
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In short, according to White, upcoming new products in industries that are poised for sustained growth give Apple a leg-up over other companies.
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