RBC Capital has upped its price target on Apple from $132 to to $145 as the firm remains positive on Apple’s near- and long-term prospects.
According to the brokerage next year’s iPhone may be received even better in comparison to this year’s given robust 5G development throughout the year.
“In addition to the strength of its core product categories, we believe continued services growth, market-leading buyback activity, and potential for new products/services (Apple Car?) suggest AAPL’s premium multiple is warranted” said the brokerage.
MacDailyNews Note: Apple will reveal the company’s fiscal year 2021 first quarter (Q121) earnings on Wednesday, January 27, 2021. As always, we will bring you Apple’s earnings results as soon as they are made available – just check our home page right around 4:30pm EDT on January 27th. We’ll also cover Apple’s conference call starting at 5pm that day with live notes, as usual. That link will appear on our home page around 4:45pm EDT that same day.