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.
Disclaimer: I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.
| Perf. YTD | -3.23% |
| 52W high | -11.50% |
| 52W low | 71.68% |
| PE Ratio | 28.88 |
| MKT Cap | 2.14T |
| Target Price | $158.47 |
| # of Analysts | 38 |
| Last updated | 2021-05-06 |
