“U.S. equities are trying to piece together a rally Friday and Apple’s nearly 4% gain is helping greatly,” Bret Kenwell reports for TheStreet.
“That Apple rally is fueled by Piper Jaffray analyst Gene Munster, who maintained his overweight rating and assigned a $179 price target on the stock. Apple currently trades at close to $100 a share,” Kenwell reports. “Munster also made the case that shares could climb 50% from current levels by the time Apple launches the iPhone 7.”
“Munster is suggesting investors buy the stock ahead of earnings, which is contrary to many investors’ outlook,” Kenwell reports. “Apple reports earnings after the close on Tuesday.”
Read more in the full article here.
MacDailyNews Take: Guidance will be the key.
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