“Analyst Andy Hargreaves raised his rating on Apple to overweight, the equivalent of buy, after being at sector weight for the past 4 1/2 months,” Kilgore reports. “He set a base-case price target of $187, which is 19% above Friday’s closing price of $156.99.”
“Hargreaves said Apple’s most “inelastic” customers are likely to be the ones who look to purchase the iPhone X first, which he believes will create a favorable initial mix of higher-priced iPhone X sales that should please investors over at least the next few quarters,” Kilgore reports. “That should help keep market valuations above historical averages, which raises his “bear-case” target for the stock by 24% to $136. His bull-case target is $227.”
Read more in the full article here.
MacDailyNews Take: Once Apple gets enough iPhone X units assembled, most people aren’t going to be able to wrap their heads around the numbers the company posts.
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