What you need to know
- Citi analyst Jim Suva has been speaking with CNBC.
- The analyst thinks Apple's wearables category will surprise investors this holiday quarter.
- AirPods and Apple Watch are expected to see strong sales in particular.
Citi analyst Jim Suva has been speaking with CNBC today and he thinks that Apple's wearables category is in for a big holiday quarter. In fact, Apple Watch and AirPods are two products that were singled out specifically.
As part of the bullish outlook (via 9to5Mac), Suva currently has AAPL set at a price target of $300 with 2020 expected to be the beginning of its march towards that goal. And as has become clear, AirPods are going to be a big part of that. Particularly the recently released AirPods Pro.
"Some of their products are selling out and you have to wait to get them," Suva said on "Squawk Alley," referencing a "several-week delay" to get AirPods Pro around the holiday shopping season.
"It's not due to manufacturing issues," he added. "It's actually due to strong demand where the company can't keep up."
Following AirPods Pro, Suvie also pointed to the Apple Watch Series 3 as a potentially strong seller, especially given its new placement as Apple's budget wearable.