Apple’s stock rallies raised price target to street-high $ 515 after Wesbush’s Ives


Apple Inc. AAPL shares,
-2.27%
Wembush analyst Dan Ives traded rallies on Monday, down 1.2%, after his price target was street-high from $ 475 to $ 515, an “appreciable offtake” in future August 12 forecasts. Quoting that, he said that is a good sign for the demand trend. Titled in this “Super Cycle” October launch. He maintained his rating, setting a new “bull case” target of $ 600. Among 41 analysts surveyed by FactSet from First Shanghai analyst Xiao Yu Han, Ives now has the highest price target above $ 510, ranked second. Ives’s target is 15.9% above its closing price of $ 444.45 on Friday, and 22.1% above the FactSet average target of $ 421.75. “While soft macro and COVID backgrounds are weighing on near-term consumer demand trends, Apple has the opportunity” once a decade “over the next 12 to 18 months, as we anticipate that Cupertino’s worldwide There are approximately 350 million out of 950 million iPhones. In the window of opportunity for an upgrade, “Ives wrote in a note to customers. The stock has gained 51.4% as of Friday, while the Dow Jones Industrial Average DJIA,
+ 0.17%
Has slipped 3.9%.

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