| 2019-06-14 07:13:18|
AAPL 07:13 06/14 06/14/19
Apple June quarter China iPhone demand 'in line with expectations,' says Wedbush
Wedbush analyst Daniel Ives tells investors in a research note that all eyes will be on any signs of demand weakness out of China in light of the ongoing U.S.-China trade battle as Apple CEO Tim Cook heads into the next month. Ives says he believes the June quarter China iPhone demand has so far been tracking "in line with expectations," or a "modest" rebound from the softness seen in the December and March quarters, but notes a "nervous" environment across the supply chain. Ives, who maintains an Outperform rating and $235 price target on Apple shares, notes that China represents roughly 20% of all iPhone upgrades over the next 12-18 months.