Wedbush boosts AAPL target share price to $350
What you need to know
- Wedbush has raised its Apple share target price.
- Dan Ives has Apple valued at $350 per share.
- He does, however, note that there may be "darker days ahead".
Wedbush analyst Dan Ives has raised his Apple target share price to $350, citing "robust performance" of services and the iPhone 12.
As AppleInsider reports:
According to the report, investors are mainly focused on Apple's services sector, the performance of which Ives described as "robust". Ives also believes that Apple's plan to reopen more stores and a return to normal service within its supply chain will pave the way for Apple's post-COVID resurgence. Ives believes that around 350 million people fall into Apple's upgrade window, which could signal high demand for Apple's next device.
Ives reiterated his previous prediction that Apple's 5G iPhone lineup would debut towards the end of the year in November or December. Regarding Apple's target price:
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design. Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9