Apple, VMware added to ‘best ideas’ list at Wedbush

Apple, VMware added to ‘best ideas’ list at Wedbush

Wedbush on Thursday afternoon added Apple Inc. AAPL, -2.34% VMware Inc. VMW, -1.72% and Qualys Inc. QLYS, -2.00% shares to the firm’s “best ideas” list. Analyst Daniel Ives wrote that he sees upside to 2019 iPhone shipment estimates given what he deems to be pent-up demand for the company’s new phones. “Based on our analysis we believe 350 million iPhones are in the ‘window of opportunity’ to upgrade over the next 12 to 18 months with Apple needing to capture a majority of these units as part of this upgrade cycle to make a clearly successful iPhone product cycle in 2019 and lay the groundwork for future services/software growth and steady iPhone demand over the coming years,” Ives wrote. He said that the features and pricing for the new phones help put Chinese consumers “front and center.” Ives rates the stock a buy with a $310 price target. Apple shares were up 0.2% in after-hours trading.

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