United States  

Trusted News Discovery Since 2008
One News Page
One News Page United States > Business News > Wedbush analyst ups Apple target to $400 as 5G upgrade 'supercycle' looms

Wedbush analyst ups Apple target to $400 as 5G upgrade 'supercycle' looms

Proactive Investors Friday, 24 January 2020
Wedbush analyst Daniel Ives thinks Wall Street is underestimating Apple Inc’s (NASDAQ:AAPL) growth prospects.  He said some big-time investors are failing to comprehend the “magnitude of the 5G upgrade cycle” from which the tech giant will strongly benefit. Some 215 million to 220 million units are expected for fiscal 2021 demand. Ives is so bullish on the tech giant, which he calls “a must-own” stock, that he has bumped up his target price to $400 from $350 -- his third hike since November. His target price is the highest among street analysts.  READ: Apple closes historic 2019 for Services offerings with double-digit App Store growth In a note to clients, the analyst said he’s upbeat after a visit to Asia, where iPhone suppliers appear to be doing well, implying customers want to buy. He also noted that AirPods demand is “jaw-dropping,” and he expects healthy results on January 28 and strong March guidance. “While the stock has had a massive rally over the past year and thus far in 2020, we continue to believe this is a ‘must-own’ stock into what we would characterize as a transformational 5G supercycle over the next 12 to 18 months with Apple being our favorite 5G play,” he wrote. “Our time spent in Asia last week gave us further conviction that this 5G supercycle is real and will be a major growth catalyst for iPhone sales both domestically as well as in China.” Apple stock recently traded about 1% higher to $321 a share in New York. Shares are up around 9% so far this year, 31% over three months and 53% in the past six months. Contact the author: [email protected] Follow him on Twitter @PatrickMGraham  
Credit: AOL Build VOD - Published < > Embed
News video:

"Little Apple" Executive Producer, Writer & Director Riley S. Wilson Breaks Down His Podcast 23:41

From executive producer, writer and director Riley S. Wilson, "Little Apple" is a contemporary coming-of-age story about Apple, a young Harlem girl finding her voice. The podcast paints a picture of Apple going from informing new tenants about gentrification to confronting her classmate about his...

You Might Like

Recent related videos from verified sources

Apple Shares Drop As Coronavirus Disrupts Supply Chain [Video]Apple Shares Drop As Coronavirus Disrupts Supply Chain

Apple shares fell 2 % on Tuesday and dragged the stocks of its suppliers across the globe lower. The fall came after Apple warned of lower sales in the current quarter, saying the coronavirus outbreak..

Credit: Wochit Tech     Duration: 00:40Published

$45 Billion of Apple Market Value Wiped Out After Coronavirus Announcement [Video]$45 Billion of Apple Market Value Wiped Out After Coronavirus Announcement

$45 Billion of Apple Market Value Wiped Out After Coronavirus Announcement The market wipe-out equates to a 3.2 percent tumble of Apple shares. Apple's first-quarter earnings beat expectations. The..

Credit: Wibbitz Top Stories     Duration: 01:00Published

Recent related news from verified sources

Target inventory system also includes placeholder listings for new Apple TV, iPod touch, and Apple Watch bands

We aren’t entirely sure what to make of this just yet but Target employees are noticing some interesting listings popping up on their inventory system,...

YouTube TV Latest to Pull Out Of iOS In-App Purchases

In bad news for Apple’s App Store, YouTube TV has become the latest to turn its back on Apple’s in-app purchasing policies. Apple charges developers 30% of...

Tweets about this

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2020 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.