Last week, we discussed Apple Inc. (NASDAQ:AAPL)‘s prospects in the eyes of Brian White, an analyst at Topeka Capital Markets. White currently holds a $1,111 price target on Apple, which is more than 50% higher than Wall Street’s average target of $740.
This morning, White was on CNBC‘s “Squawk Box” segment, discussing exactly why he’s so bullish on the tech giant. Here are the Apple Inc. (NASDAQ:AAPL) highlights:
“We still like Apple [...] last night, the CEA had kind of a preview of what they think about for the new year in terms of growth [...] Last year, they had forecasted growth of 4% in consumer electronics; it actually turned out to be down one (percent). For the coming year, they expect 4% growth [...] really the two areas of growth are going to be tablets – 25% growth – and smartphones – 22%.”
White says that this “plays very well into Apple’s portfolio,” adding that “iPad Mini is a home run over in China.”
Additionally, White discussed “something smaller in the iPhone,” mentioning that:
“I think, you know, maybe it won’t be an iPhone Mini right out of the bat, but I think 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 embarrassing large smartphones [...] I’m seeing this trend in Asia and I think that’s something Apple has to address.”
In addition to talking about the potential for multiple sizing options for Apple Inc. (NASDAQ:AAPL)’s next iPhone, White mentioned one other tech play.
Continue reading to see what it is..