Apple: Wedbush Securities raises target price
(CercleFinance.com) - Wedbush Securities maintains its "outperform" rating on the Apple share, while raising its target price from 425 dollars to 450 dollars (current price 397 dollars).
"We believe during 2021 Apple will be the first $2 trillion valuation given the 5G tailwinds and services momentum potential over the coming years," the broker summarises.
In the meantime, Wedbush says it is betting on strong demand for the iPhone 12 in China starting this autumn.
Optimistic, the broker sets a new bull case of 525 dollars for the share.
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