Apple stock has come come roaring back from a swoon following its March-quarter earnings report. In fact, Apple stock on Wednesday hit a new all-time closing high. Investors have been bidding up Apple stock ahead of the company’s June-quarter earnings report, due July 27th.
JPMorgan analyst Samik Chatterjee on Tuesday said it is “time to start buying” Apple stock as second-half 2021 catalysts are visible. In a note to clients, he said iPhone 13 expectations are too low.
Chatterjee expects Apple stock “to outperform the broader market materially” in the second half of the year after underperforming significantly during the first half. He reiterated his overweight rating on Apple stock and raised his price target to 170 from 165.
After hitting a record high of 145.09 on Jan. 25, Apple stock… rose as high as 144.89 [on Wednesday]. However, on the stock market today, Apple stock pulled back along with the broader market. It ended the regular session Thursday down 0.9% to 143.24.
MacDailyNews Take: iPhone 13 generate continued 5G supercycle sales by featuring improved Apple Silicon, battery life, and even more capable camera systems.