Raymond James ups Apple price target to $280

In a note to clients on Monday, Raymond James analyst Chris Caso raised his target price on Apple shares to $280 from $250 while maintaining an outperform rating.

Emily Bary for MarketWatch:

Caso sees “more stable near-term conditions” for Apple, including encouraging iPhone 11 channel checks. Amid reports that the company plans to launch a new low-end SE model early next year, Caso argues that Apple will be able to “create a bridge to the 5G cycle,” which will “continue to squeeze shares higher,” in his view.

“We increasingly view the 5G opportunity as a two-year cycle, with 5G representing an estimated 40% of mix in the fall 2020 cycle, growing to the vast majority in the 2021 cycle,” Caso wrote of his longer-term expectations.

MacDailyNews Take: In premarket trading, Apple’s share price is up 0.67% and near its all-time high of $238.13.

3 Comments

  1. Any analyst who has a sell rating on Apple should be fired immediately and banned from any investment firm for the next five years. There has to be something wrong with those people as they don’t belong in any job that advises investors. It would prove too costly for investors to be following such idiots. I can understand being off on price targets but telling anyone to sell their Apple stock is just wrong unless they can guarantee offering a stock that will give higher gains. So far, Apple seems to be the share gains leader this year. I wonder if those analysts even give their apologies to investors for giving them such terrible advice. Those analysts are like doctors who missed their calling as butchers.

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