Ahead of the company’s earning’s report set for this Thursday amid a COVID-19 ravaged economy, Apple received a price target increase today from JPMorgan Chase.
Alan R. Elliott for Investor’s Business Daily:
Apple easily led the Dow Jones today, up 1.2% on a price target increase from JPMorgan.
The note raised the Apple stock price target to $425, from $365, ahead of Apple’s fiscal third-quarter report on Thursday.
The note also said an earnings beat and strong early 5G cycle volumes appear to be priced in, but upcoming 5G phone launches and a strong services portfolio point to additional upside.
MacDailyNews Take: The multi-year 5G iPhone super cycle looms and most analysts seem to understand the implications, at least somewhat.
