An internal survey by investment bank Evercore shows that Apple products make up a large portion of the list of gifts most consumers want during the holiday season.
Surveys show that AirPods dominate the list and iPhone ranks third. More than 80% of the respondents said they are inclined to buy an iPhone.
Apple products accounted for more than 35% of the "must-have" products surveyed. Evercore maintains Apple's outperform rating and a target price of $ 305.
Apple shares continued their record high on Monday, rising 1.7%. Apple shares have risen 77% this year.
Cleveland Research had previously been optimistic that Apple's share price would rise in the next two years, thanks to strong iPhone revenue and its fast-growing wearables business.
"We have raised Apple ’s revenue expectations to reflect the strong momentum of the iPhone, services business and other products, and we continue to see the potential for further increases in Apple's stock price," the report said. Apple supply chain sources noted that the entire holiday season Sales momentum is good.
Cleveland Research gives Apple a buy rating and expects to climb another 15% by the end of fiscal 2021.
