From a note to clients by analyst Katy Huberty that landed on my desktop
Monday.
But analyst Katy Huberty is sticking with a base case price target of
$136.
From a note to clients that landed on my desktop Monday:
We are buyers of stocks exposed to stronger than expected consumer 5G
demand. Consumer smartphone purchase intentions are the strongest in
recent history according to our AlphaWise survey of nearly 3,500
consumers in the US and China. The main driver is demand for 5G, which is
now the primary reason consumers are upgrading in the US and China a
comparatively bigger catalyst than any other recent technology upgrade
and a more bullish signal relative to investors’ more cautious stance. We
highlight key takeaways across our global technology and telco services
teams and recommend owning a group of stocks that we view best positioned
for 5G infrastructure investment and smartphone demand upside (1). …
