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Home / Business / Apple shares rebounded after Wedbush’s Ives raised its price target to $ 515 street high

Apple shares rebounded after Wedbush’s Ives raised its price target to $ 515 street high



Shares of Apple Inc. AAPL,
-2.27%
up 1.2% in pre-market trading on Monday, after Wedbush analyst Dan Ives raised his price target to a Street high of $ 515 from $ 475, citing ” The clear increase “in the forecast for the upcoming iPhone 12 will enter the” super cycle “launch this October. He kept his ratings at the better, while setting a new “bullish case” goal of $ 600. Ives’ price target is currently the highest among 41

analysts surveyed by FactSet, above second place at $ 510, from First Shanghai analyst Xiao Yu Han. Ives’s target is 15.9% higher than Friday’s closing price of $ 444.45 and 22.1% higher than FactSet average target of $ 421.75. “Although the soft macro and COVID landscape are weighing on short-term consumer demand trends, Apple has a” once in a decade “opportunity in the next 12 to 18 months as we estimate. about 350 million of Cupertino’s 950 million iPhones worldwide. in the window of upgrade opportunities, “Ives wrote in a note to customers. Shares are up 51.4% year-to-date, while Dow Jones Industrial Average DJIA,
+ 0.17%
has slipped 3.9%.


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