Deutsche Bank raised the firm's price target on Apple Inc (NASDAQ: AAPL) to $200 from $175 and reiterated a Buy rating on the shares. The price target implies an upside of 15.6%. Considering a "healthy demand backdrop" and Apple's "strong" portfolio across its product lines, the Street estimate for 2022 revenue growth of only 5% is too low with the push-out of some revenue from 2021 already accounting for three percentage points of growth. The analyst believes there is an upward bias to Apple's estimates. While supply chain constraints are a near-term headwind to revenue, Apple's supply chain has improved at a faster pace, with iPhone wait times shortening to only a few days, and that should be enough to drive a "beat-and-raise," Deutsche Bank says.