Apple’s guidance for the all-important September quarter cheered Wall Street amid concerns about the impact on sales from the U.S.-China trade war and increasing competition from smartphone rivals.
Goldman Sachs and Piper Jaffray raised their price targets… The shares jumped 4.3% in pre-market trading on Wednesday. The gain could push the company’s market value back above $1 trillion, depending on the number of shares Apple had outstanding at the end of the quarter. Apple is approaching a year-to-date high reached in May…
[Wedbush analyst Daniel Ives wrote]: Overall, would characterize this quarter/guidance as a “major feather in the cap for the bulls,” that should drive the stock to new highs over the coming months.
MacDailyNews Take: Trillion-dollar market cap, here we come again!