JPMorgan ups Apple price target to $425

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.

Image: Apple logoAlan 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.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.