Apple Inc. could get a boost from expanded uptake of iPhone trade-in programs, Morgan Stanley's Katy Huberty wrote Monday. Daniel Ives, analyst at Wedbush Securities said Apple is likely to hit a market value of $2 trillion in 2021. The firm raised its price target to $450 from $425, adding a bull case target of $525.
The next iPhones are rumored to have 5G hardware, which will allow the phones to access a network that promises faster internet and quicker response times than LTE and boosts sales. The stock has rallied 45% over the past three months as the Dow Jones Industrial Average (DJIA) has gained 13%. Currently, Apple has a market cap of $1.7 trillion.
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