Apple: Wedbush raises target price

(CercleFinance.com) - Wedbush maintains its Outperform rating on the Apple stock, raising its target price for it from $205 to $220

"Our recent Asia supply chain checks give us further incremental confidence that this upcoming iPhone 15 product cycle could be another trophy case moment for Cupertino," the analyst says.


The next cycle of this Iphone 15, which will start this autumn with units and average prices per unit "that could yet another easily surpass current Street expectations" leads Wedbush to increase its target price "to reflect increased confidence in this upcoming iPhone cycle".

"We believe Apple's fair valuation could be in the $3.5 trillion range with a bull case $4 trillion valuation by FY25", Wedbush adds.


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