Apple +0.8% as firms boost targets for iPhone demand

|About: Apple Inc. (AAPL)|By:, SA News Editor

Apple (AAPL +0.8%) is higher today in the wake of a pair of price target hikes.

Stifel has boosted its target to $150 from $130, with expectations that iPhone shipments this year will rise 4% to 224.7M (vs. its previous forecast of 215.7). Analyst Aaron Rakers expects higher 2018 shipments as well: 250.6M (up 11.5%) vs. a previous 230.5M.

Morgan Stanley raised its target to $161 from $154, implying 13.5% upside, saying the company has a clear path to an iPhone "supercycle" with demand for 260M-264M units. When Apple reports May 2, analyst Katy Huberty's expecting "typically" conservative guidance and a boosted dividend and stock buyback.