Apple: Wedbush even considering TP of 700 dollars
(CercleFinance.com) - Wedbush Securities said on Wednesday that it has raised its target price for the Apple share from 515 dollars to 600 dollars, while maintaining its "outperform" rating on it.
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While acknowledging that the Covid-19 crisis and the economic environment are likely to weigh on demand in the near term, the broker believes that Apple will benefit - over the next 12 to 18 months - from an opportunity that arises once every decade.
According to Wedbush's calculations, 350 million devices out of the 950 million iPhones sold worldwide by the Cupertino group could soon be the subject of a range renewal.
In these conditions, the broker has set a new bull case target price of 700 dollars, representing upside potential of almost 40%.
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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.
.
While acknowledging that the Covid-19 crisis and the economic environment are likely to weigh on demand in the near term, the broker believes that Apple will benefit - over the next 12 to 18 months - from an opportunity that arises once every decade.
According to Wedbush's calculations, 350 million devices out of the 950 million iPhones sold worldwide by the Cupertino group could soon be the subject of a range renewal.
In these conditions, the broker has set a new bull case target price of 700 dollars, representing upside potential of almost 40%.
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.