What’s Driving Wall Street’s Apple Optimism? Almost Everything
- Analysts tout growth in services, wearables and the 5G iPhone
- Average price target has spiked, but is below stock price
Employees prepare display products inside an Apple store on Regent Street ahead of its reopening in London on June 11.
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
Apple Inc. looks like an attractive investment no matter which aspect of the business you examine, according to analysts who are growing steadily more optimistic about the stock’s prospects.
At least a dozen Wall Street firms have raised their Apple price targets this month alone, lifting the average to nearly $343, up from $305 at the end of April. UBS, Deutsche Bank, Bernstein, Citi, BofA and Morgan Stanley are all among the firms turning more positive, although the higher average still implies downside of more than 7% from current levels.