Wedbush

Apple’s price target cuts to $175 from $200 at Wedbush

The investment firm cut the tech giant’s price target to $175 from $200 and maintained an outperform rating. Wedbush expects the 8 million to 10 million iPhone units that were pushed out of the December quarter to benefit the March quarter as demand moves into 2023. “We believe Apple has a unique installed base demand story that can withstand the Category 5 macro pressures around the corner better than its tech peers and should remain a Rock of Gibraltar name into 2023,” Wedbush analysts Daniel Ives and John Katsingris said.

Apple’s price target cuts to $175 from $200 at Wedbush Read Post »

Wedbush maintained Tesla’s outperform rating and $175 price target

Tesla (TSLA) missing its delivery growth target for full-year 2022 remains a concern heading into a “very cloudy” 2023, Wedbush said in a note to clients Tuesday. Analysts are now expecting delivery growth of 35% to 40% in 2023 as overall demand starts to dwindle for Tesla, according to the investment firm. Tesla needs to cut prices more especially in China and Chief Executive Elon Musk should now focus on the automaker instead of Twitter, which “remains a distraction and overhang” for Tesla, said Wedbush analysts.

Wedbush maintained Tesla’s outperform rating and $175 price target Read Post »

Wedbush analyst Dan Ives: tech stocks 20% rebound next year

Wedbush analyst Dan Ives expects the tech sector, which fell into a bear market in 2022, to surge 20% in 2023 as companies work to protect earnings and the Federal Reserve winds down its interest rate hikes. “We see growth opportunities in this catastrophe because we believe that despite macroeconomic and Fed policy uncertainties, tech stocks will rise about 20% by 2023 from current levels, with big tech companies, software and semi-tech companies leading the rally,” Ives said. ”

Wedbush analyst Dan Ives: tech stocks 20% rebound next year Read Post »

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