Apple Analysts Grow More Optimistic on 5G Prospects and Recovery
- Firms raise price targets and HSBC moves away from bear view
- Shares up more than 50% from recent low, trading at record
Photographer: Chris Ratcliffe/Bloomberg
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Apple Inc. analysts have grown more positive on the company’s prospects, pointing to the upcoming launch of a 5G version of the iPhone, as well as continued growth in its services business.
The stock has been in a strong uptrend for weeks, gaining nearly 60% off a March low and closing Wednesday at record levels. The gains have given Apple a market capitalization above $1.5 trillion, making it the largest U.S. stock.