Both Bank of America and Evercore raised the price targets for Apple shares this morning to $290 and $305, respectively.
Brandy Betz for Seeking Alpha:
Bank of America raises its Apple price target from $270 to $290, expecting AAPL to benefit from “5G adoption driving consistent 200mm+ iPhone units” in CY20-22.
BofA also cites the “attractively priced” wearables portfolio and continuing strong demand for the existing iPhones.
Evercore lifts Apple from $275 to $305, seeing a “robust” holiday season for the AirPods and iPhone 11.
MacDailyNews Note: Apple is currently up fractionally, trading around the $270 mark.
It’s nice Apple’s price target keeps getting raised, but it still doesn’t explain (or should I say offset) those five analysts with Sell recommendations for Apple. Apple’s wearables will certainly boost holiday revenue, so only a fool or a masochist would sell Apple stock at this point in time.