(News Bulletin 247) – Wedbush maintains its Outperformance recommendation and raises its price target from $205 to $220 on Apple shares.
“Our recent supply chain audits in Asia give us confidence that the next iPhone 15 production run could be another trophy for Apple,” the analyst said.
The next cycle of this Iphone 15 which will begin this fall with units and average prices per unit ‘which could once again exceed current expectations of the Exchange’ leads Wedbush to this raised price target ‘which reflects our increased confidence in this next round’.
“We believe Apple’s fair valuation could be in the $3.5 trillion range, with an upside scenario of $4 trillion by fiscal year 2025,” Wedbush adds.
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