“Apple will generate significant profits and sales growth over the next three years, according to one Wall Street firm,” Tae Kim reports for CNBC. “D.A. Davidson initiated coverage for Apple shares with a buy rating, citing the company’s leadership position in the smartphone market.”
“Forte started his price target for Apple shares at $220, representing 33 percent upside to Monday’s close,” Kim reports. “The analyst predicts the company will be able to grow its sales by 7.5 percent per year through fiscal 2020.”
Kim reports, “Apple shares rose 0.7 percent in Tuesday’s premarket session. The company reports its fiscal second-quarter results after the market close.”
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MacDailyNews Take: Trilion-dollar company.