According to analyst Brian White from Cantor Fitzgerald, who keeps a check on Apple’s supply chain with his monthly “Apple Barometer”, has revealed in an investors note that Apple’s sales were up 7% month over month in April, AppleInsider reports. Over the last 9 years, Apple suppliers have seen their sales fall 1% month over month in April but this year, they have seen a record month-to-month growth.
White’s Apple Barometer correctly suggested in early April that Apple’s March quarter results could be stronger than Wall Street expected. Apple did in fact come in ahead of market forecasts for the quarter. The analyst also mentioned in his note that things will ramp up in the second half of 2014 for Apple, when he expects a new ‘iPhone 6’ and revamped iPads. He also believes that the company will launch a so-called ‘iWatch’ later this year.
With Apple’s March quarter results out of the way a couple of weeks ago, and WWDC on the horizon in June, we believe more investors will be getting more actively involved with the name ahead of this product cycle, during what we have dubbed as the ‘Year of Innovation,'” White said.
White has once again maintained a price target of $777 for AAPL.