Apple: shares hit record highs, Deutsche ups target
(CercleFinance.com) - Apple shares (+1.
8%) have hit new all-time highs on Wednesday as Deutsche Bank raised its target price from 380 dollars to 400 dollars, reiterating its "buy" rating on the Californian tech giant.
"It seems that Apple is reaching all-time highs every week, and that has us nervous," Deutsche Bank said in a note to clients.
"With such volatility in the largest company in the world, we believe that Apple's quick rise has some investors a bit anxious about their holdings at present," it adds.
However, Deutsche Bank says that the stock is benefiting from the prospect of a V-shaped recovery in sales and the strong results from its recently announced products, and feels "comfortable" that the stock will continue to offer upside for investors.
Copyright (c) 2020 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.
8%) have hit new all-time highs on Wednesday as Deutsche Bank raised its target price from 380 dollars to 400 dollars, reiterating its "buy" rating on the Californian tech giant.
"It seems that Apple is reaching all-time highs every week, and that has us nervous," Deutsche Bank said in a note to clients.
"With such volatility in the largest company in the world, we believe that Apple's quick rise has some investors a bit anxious about their holdings at present," it adds.
However, Deutsche Bank says that the stock is benefiting from the prospect of a V-shaped recovery in sales and the strong results from its recently announced products, and feels "comfortable" that the stock will continue to offer upside for investors.
Copyright (c) 2020 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.