Kit Rees and Ryan Vlastelica for Bloomberg:
Apple Inc.’s results were praised for a quarter which had “no blemishes,” according to Wedbush, as demand for recently-released iPhone 11 models bodes well for the holiday period. Multiple analysts raised price targets, with a new Street-high from Morgan Stanley [$296] implying 22% upside for the tech giant.
Analysts were also positive on the performance of Apple’s services business and sales of wearable technology. Looking further ahead, the potential release of a low-cost SE2 iPhone model as well as 5G-enabled devices may provide a further boost.
The stock gained as much as 2.2% and returned near record levels hit earlier this week.
MacDailyNews Take: Onward and upward! Apple TV+ launches tomorrow, a low cost iPhone in early 2020, and the next-gen 5G iPhones loom large!