Analysts at D.A. Davidson have lifted the firm’s price target on Apple shares to $375, a new high among analysts covering the Cupertino Colossus.
Ben Winck for Business Insider:
The tech giant’s stock is poised to leap 20% over the next year to $375 per share, analyst Tom Forte said in a Monday note. Apple currently trades at roughly $313 per share, just above Davidson’s previous target of $310…
The research firm expects 5G to provide a potent shot-in-the-arm for the flagship product. Apple’s upcoming devices will drive several years of growth… “There is enough complexity and hype when it comes to 5G that we believe Apple can exploit this multi-year opportunity and generate positive smartphone unit growth for, at least, its next two product launches – fall of 2020 and fall of 2021,” he said…
Forte expects one of the company’s smaller product releases, the Apple Card, to grant a healthy boost to iPhone purchases come fall. Cardholders can buy the upcoming iPhones with zero-interest payment plans, and the payment flexibility “could be a catalyst for iPhone unit sales for several years,” Forte wrote.
MacDailyNews Take: We bet that Apple Card, with its generous cash back offer on Apple purchases — that can get even more generous during holiday shopping periods (as it did ahead of Christmas when it was upped from 3% to 6%) — will power Apple hardware and services sales to new levels for years to come!