Apple: Wedbush raises target price
(CercleFinance.com) - Wedbush Securities has raised its target price for the Apple share on Tuesday and says that calm is being restored after a "turbulent" few months.
In a note to clients, the US broker wrote that the Californian tech giant needs to ensure that they do not lose any of their current iPhone customers, given lower priced competition across the board - and in particular from China's Huawei.
This means that significant price cuts in Asia, ahead of the next major product cycle in September, is a smart and necessary strategy for Apple, it added.
According to Wedbush, the installed base story and core services growth will drive the stock over the next decade, with China a key ingredient in Apple's future success.
The broker - which maintains its "outperform" rating on the share - has raised its target price from 215 dollars to 225 dollars.
Apple shares were trading up slightly in morning trading today, up 0.7% at 201.5 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the US broker wrote that the Californian tech giant needs to ensure that they do not lose any of their current iPhone customers, given lower priced competition across the board - and in particular from China's Huawei.
This means that significant price cuts in Asia, ahead of the next major product cycle in September, is a smart and necessary strategy for Apple, it added.
According to Wedbush, the installed base story and core services growth will drive the stock over the next decade, with China a key ingredient in Apple's future success.
The broker - which maintains its "outperform" rating on the share - has raised its target price from 215 dollars to 225 dollars.
Apple shares were trading up slightly in morning trading today, up 0.7% at 201.5 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.