Wedbush analysts today has raised the firm’s target price on Apple shares, focusing on Services as AAPL’s propellent.
Wedbush upped their AAPL target to $375 from $350, which implies a 15% upside.
In a note to clients, Wedbush outlined a bull case of $425 per share with a second-half macro “snapback” ahead with the looming launch of the 5G iPhone and pent-up demand by many millions of users currently using older iPhones.
By the end of 2021, Wedbush says that “Apple has potential to be the first $2T valuation given the 5G tailwinds and services momentum potential over the coming years.”
MacDailyNews Note: Apple shares earlier today hit new all-time intraday high.
