Apple Analysts See Little Room for Error After Stock Rally
- KeyBanc analyst calls valuation ‘historically high’ after rise
- BofA expects strong results but says ‘future upside more hazy’
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Apple Inc. shares have been on a nearly uninterrupted move higher over the past several months, and analysts are starting to ask whether the rally might be overdone.
The stock has already risen more than 8% in 2020, an advance that builds on 2019’s 86% rally, the biggest one-year percentage gain in a decade. Shares have hit repeated records over the advance, which has solidified Apple’s position as the largest U.S. stock by market capitalization.