On Monday, a Wall Street analyst said next year’s 5G iPhone is likely to kick off a “super cycle” of upgrade activity.
Patrick Seitz for Investor’s Business Daily:
Apple stock jumped to another record high as hype continues for the company’s expected 5G smartphones.
Wedbush Securities analyst Daniel Ives reiterated his outperform rating on Apple (AAPL) and raised his price target to 350 from 325.
In afternoon trading on the stock market today, Apple stock rose 1.5%, near 283.50. Earlier in the session, it hit an all-time high of 284.06. That is its eighth record high in the last 12 trading days.
MacDailyNews Take: Onward and upward!
Go go go AAPL to $350.
Merry Christmas to all!. 🎄
Cheers!. 🍷🍷🍷🍷🎄🎄🎄🎉🎉🎉🎉
An incredible year for Apple and Apple shareholders, so far. I have absolutely no regrets for owning Apple long-term. I can’t even imagine $350 a share but I said that when it was close to $250 which has come and gone. Apple’s P/E is getting very close to 24 (23.9) which I didn’t think Wall Street would allow before screaming for a massive correction. Anyway, Apple is doing very well and I hope it can continue.
I’m still doubtful about a 5G ‘supercycle’ for any smartphone company. Analysts continue to use the term ‘supercycle’ but it hasn’t actually happened for Apple as of yet. I personally don’t know anyone who is going to be upgrading to a 5G smartphone when they have a fine-working 4G smartphone. In most cases, I would think they would wait at least another year if they expect any boosted speed results.
Getting iPhone 11 for the family because the 6 is history although the are working just fine and T-Mobile is giving the phone away, especially if you have a military discount. I don’t plan to get 5g until it’s at least in my area and it’s been standardized and debugged.
One iPhone at a time onward to 1 billion Apple users 👍 👏
No, I don’t think it’s because of 5G anticipation. The tech sector is up, period and many such businesses have little to do with 5G.
Apple is firing strongly on most cylinders is the simple reason, I believe. In addition, there’s lots of promise for some of the smaller cylinders to get bigger. Apple is proving to Wall Street their income is becoming more predictable…because of services. There’s a ways to go, but it’s obvious is a now a material stream of $$ (funny to say that when it’s been in the billions for awhile).
I’m sure the 5G anticipation will have an effect, but it’s too far off now and the actual benefactors will be relatively meek and service expensive, therefore adoption will be measured. When the number of users being able to employ 5G occurs and price settles a bit, hello cyclone iPhone cycle.
And…Merry Ear Bud Christmas Explosion!
I was thinking of all the potential Apple investors who got scared off by a few crooked or stupid analysts who have Sell recommendations for Apple. Honestly, those analysts should be fired from their jobs due to rampant incompetence. Why anyone would follow their advice, I’m not certain, but I’m sure they must tell their clients which stocks are good and bad investments. I actually had a broker who would always ask me why I bought Apple stock when there were plenty of other good stocks. At the time, Apple didn’t give dividends, but I just thought the stock would have decent gains due to loyal customers. I was right, he was wrong. At the time, I never counted on Apple offering dividends and never dreamed of Apple becoming the highest valued tech company on the planet. Dumb luck on my part. Maybe a bit of educated dumb luck.