Nomura analyst Jeffrey Kvaal cites recent Foxconn comments that it expects to return to normal operations by the end of the month, which Kvaal sees as “slightly better than hoped and thus a positive for Apple (NASDAQ:AAPL).”
Kvaal says the estimate indicates that “Apple’s supply chain is recovering faster than hoped,” but notes there could still be demand impact related to the coronavirus.
Nomura maintains a Neutral rating and $295 price target. Apple has a Bullish average Sell Side rating.
Apple shares are up 3.6% to $299.78.
Related: Earlier today, Apple supplier Dialog Semiconductor said its main contract manufacturers should be near 100% capacity by the end of March.
