“With tech stocks on the upswing, Credit Suisse has put out a list of of its top investment ideas, with Apple taking one of the top spots in the hardware space,” Chris Ciaccia reports for The Street. “Using a six-to-twelve month time frame, the investment bank had its analysts put forth its ‘high conviction ideas.’ Its top names combine strong recent financial performance and an appreciation in share price over the past year.”
“Analyst Kulbinder Garcha believes Apple shares could rise almost 40%, to a price of $140, thanks in part to taking away market share in the smartphone business (iPhone), tablet business (iPad) and computer business (Mac), as well as greater adoption of the iOS ecosystem,” Ciaccia reports. “Despite near-term concerns about the iPhone, Garcha believes the company’s user base, which surpassed 1 billion active devices in fiscal 2015 (the first time Apple has disclosed such a figure), will continue to grow.
Ciaccia reports, “Along with a ‘sustainable compute advantage,’ as well as a commitment to returning cash to shareholders, Apple shareholders should soon see multiple reasons for the stock to move higher.”
Read more in the full article here.
MacDailyNews Take: From your lips to Mr. Market’s ears, Kulbinder.
Why Apple stock is poised for a comeback after tough start to 2016 – March 3, 2016