Jefferies matches Street-high $350 price target for Apple stock

Apple Fifth Avenue
Apple Fifth Avenue

Jefferies is the latest investment analyst firm to predict healthy earnings results for Apple’s holiday quarter, boosting its price target to match a Street-high.

Jason Aycock for Seeking Alpha:

The firm raised its target to $350 from $285.

The company headed to a strong end to 2019 based on analyzing foot traffic at U.S. stores as well as global Web traffic, it says, noting the Black Friday traffic was the best in three years.

Meanwhile, better-than-expected performance from the iPhone 11 is acting as a bridge to 5G, which it says is the “biggest driver of our thesis.”

MacDailyNews Take: AAPL is up some six bucks a share, knocking on $310’s door. Wedbush last week set the high-water price target mark on AAPL at $350 as analysts scramble to keep up. Apple’s Q120 earnings are set to be released on Tuesday, January 28th after market close. As usual, we’ll have those results for you as soon as they are available, right around 4:30pm ET / 1:30pm PT on January 28th.

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