Davidson hikes Apple price target $75 to new Street-high $375
Jan. 13, 2020
Apple analysts are still scrambling to catch up to the market. Some haven’t even started.
From CNBC :
D.A. Davidson hiked its price target for Apple on Monday morning to the highest level on Wall Street, saying 5G technology gives the company opportunities to reignite iPhone growth.
The emergence of 5G should allow the consumer tech giant to grow its iPhone sales in each of its next two launch cycles, starting this fall, analyst Tom Forte said in a note to investors. D.A. Davidson now has a price target of $375 per share for the stock, up from $300 per share previously.
“There is enough complexity and hype when it comes to 5G (the next-generation wireless network) that we believe Apple can exploit this multi-year opportunity,” Forte said.
My take: Tom Forte had to jump pretty far to get ahead of the crowd. Others—say, Rod Hall at Goldman Sachs (current target: $196)— will have to leap even further just to get even.
Below: Who has jumped, and how far, since Q4:
World’s First 3D Printed Hyper Car To Sell For $1.7millionSony Announces Xperia 10 II Flagship With Snapdragon 865, 8GB RAM, 3.5mm Headphone JackUhuru men, tycoons plot to kick out Ruto in Mt KenyaImposter Syndrome: 4 Ways To Overcome Self-DoubtSAMSUNG Has Been Forced to Close Its Galaxy Z Flip Factory in China Following a Coronavirus Case