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Apple, whose stock is perched at a record high, is inching closer to becoming a $3 trillion company as Wall Street gets bullish on its future.
The tech giant saw its shares jump more than 3% following Morgan Stanley’s Kathy Huberty note to investors about raising price target from $164 to $200. Huberty argued that it’s time to consider the company’s plans to launch an augmented reality product and self-driving car in the next few years.
Similarly bullish sentiment came from KeyBanc Capital Markets analyst Brandon Nispel, who placed an overweight rating on Apple, calling it "an attractive buy."
With the holiday shopping season in full swing — and consumers rushing out to buy the latest iPhone as gifts for themselves and relatives — he's forecasting a $191 price target over the next 12 months. That is about 16% higher than their current price.
“The key competitive advantage for the company is really in its large and, and still growing user base, particularly on the iPhone side,” Nispel told Yahoo Finance Live on Tuesday.
“That user base really fuels Apple's competitive advantage in that its ecosystem continues to grow and it becomes very important for the longer terms story,” the analyst added.
https://finance.yahoo.com/news/appl...as-market-cap-zeroes-in-on-3-t-122915701.html
The tech giant saw its shares jump more than 3% following Morgan Stanley’s Kathy Huberty note to investors about raising price target from $164 to $200. Huberty argued that it’s time to consider the company’s plans to launch an augmented reality product and self-driving car in the next few years.
Similarly bullish sentiment came from KeyBanc Capital Markets analyst Brandon Nispel, who placed an overweight rating on Apple, calling it "an attractive buy."
With the holiday shopping season in full swing — and consumers rushing out to buy the latest iPhone as gifts for themselves and relatives — he's forecasting a $191 price target over the next 12 months. That is about 16% higher than their current price.
“The key competitive advantage for the company is really in its large and, and still growing user base, particularly on the iPhone side,” Nispel told Yahoo Finance Live on Tuesday.
“That user base really fuels Apple's competitive advantage in that its ecosystem continues to grow and it becomes very important for the longer terms story,” the analyst added.
https://finance.yahoo.com/news/appl...as-market-cap-zeroes-in-on-3-t-122915701.html
