- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
Apple (NASDAQ:AAPL) may be under a share-price strain lately, but according to Topeka Capital Markets analyst Brian White, the company’s supply chain is on a big high. Apple’s suppliers have received the windfall of the company’s many product overhauls over the past few months and saw a combined year-over-year growth rate of 29 percent in October, White wrote in his monthly “Apple Monitor” report.
The analyst tracked sales trends across Apple’s Taiwan supply chain at companies that generate a high percentage of their revenues from the iPhone maker, according to Apple Insider.
Our 20-page proprietary analysis of Apple’s stock is ready. Click here and to get your Cheat Sheet report now!
Not only does the latest increase follow September’s drop of 1 percent, it is way above the average 2 percent year-over-year growth seen in the month of October over the last 7 years.
White added that Apple’s new product releases were an “unprecedented” transition and were likely to account for 80 percent of the company’s total sales is this quarter. He also said that he remained bullish on Apple despite the “selling pressure” being experienced by the stock. “The iPhone 5 and iPad mini are blockbuster new products that we believe will prove to be big hits this holiday season and into 2013, combined with the new iPad, MacBook Pro, iMac, and iPod lineup,” White wrote.
White has a 12-month price target of $1,111 on Apple stock, a figure that is currently almost double the company’s stock price.
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.