Here's Why Apple Remains Top Pick For Wedbush Amid Odds

·1 min read
  • Apple Inc's (NASDAQ: AAPL) iPhone demand is "better than expected" for the quarter, and its supply chain is proving "surprisingly resilient," Wedbush's Dan Ives said:

  • Ives believes iPhone demand is holding up better than expected despite the various supply issues and is trending better than management's guidance thus far in the quarter.

  • Ives assured that its Asia iPhone supply chain checks have been "surprisingly resilient" over the last few weeks despite the zero Covid-driven demand issues in China that remain the elephant in the room for the Apple story.

  • Also Read: Data Is The New Oil? Not Yet! Saudi Aramco Surpasses Apple To Become Most Valuable Company

  • As Ives notes, Apple's supply chain is under pressure in mainland China because of strict zero-COVID measures implemented by the government. Some factories have had to suspend operations, with others operating at limited capacity or keeping employees in "closed-loop" environments to prevent the spread of the disease.

  • Ives said AAPL remains a "top tech pick" despite some woes of late.

  • Ives has previously said that Apple is one of a few stocks representing a "generational buying opportunity."

  • Price Action: AAPL shares traded lower by 2.41% at $134.02 on the last check Friday.

Latest Ratings for AAPL






Mar 2022




Feb 2022

Tigress Financial


Strong Buy

Jan 2022

Credit Suisse



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