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Apple: Wedbush raises target price to 400 dollars

(CercleFinance.com) - Wedbush Securities said it has raised its target price for the Apple share from 350 dollars to 400 dollars ahead of the Californian tech giant's quarterly results next week.

"We believe the company is poised to handily beat Street expectations
in light of a strong holiday season with pent up demand catalyzing iPhone 11
purchases," the broker wrote in a note on Friday.

Wedbush - which has an "outperform" rating on the stock - in particular cited the magnitude of the 5G upgrade cycle and recent Asia checks around iPhone 11 units, which looked "robust."

Apple will report its results for the December quarter on Tuesday 28 January.

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