Apple: shares up as broker raises price target
(CercleFinance.com) - Shares in Apple rose over 1 percent to 282.
3 dollars in morning trade on Monday after a broker raised its price target on the stock.
Wedbush Securities lifted its target to 350 dollars from 325 dollars ahead of an "historic year" 2020 that could serve as the "year of an iPhone supercycle".
"We believe iPhone 11 is just the front end of this current "supercycle" for Cupertino with a slate of 5G smartphones set to be unveiled in September that will open up the floodgates on iPhone upgrades across the board that the Street continues to underestimate," it wrote in a note.
Wedbush rates the stock at "outperform."
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.
3 dollars in morning trade on Monday after a broker raised its price target on the stock.
Wedbush Securities lifted its target to 350 dollars from 325 dollars ahead of an "historic year" 2020 that could serve as the "year of an iPhone supercycle".
"We believe iPhone 11 is just the front end of this current "supercycle" for Cupertino with a slate of 5G smartphones set to be unveiled in September that will open up the floodgates on iPhone upgrades across the board that the Street continues to underestimate," it wrote in a note.
Wedbush rates the stock at "outperform."
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.