Apple: share rises with analysts upbeat
(CercleFinance.com) - The Apple share is the sharpest riser in the Dow Jones on Tuesday, driven by positive comments from analysts at Credit Suisse.
At 10:00 am (local time), the share of the Californian high-tech giant was up 5.2% at 210,7 dollars, outperforming the 1,6% increase in the Dow. Note that it has fallen by 6% since the start of August.
In comments aboutthe Cupertino-based group, Credit Suisse analysts - which rely on official data - point out that Chinese deliveries of iPhones jumped 42% in July, even though the smartphone market was down 3.5% over this period.
This recovery, which bodes well for the share after its 35% plunge in June, could herald a solid third quarter for the group, say the Credit Suisse teams.
However, despite everything, the investment bank still prefers to maintain a "neutral" rating on the share, along with a target price of 209 dollars, pretty much the same as its current market price.
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