Apple (AAPL) PT Raised to 'Street High' $400 at Wedbush on 5G Super Cycle

(Updated - January 24, 2020 6:34 AM EST)

(updated to expand comments)

Wedbush analyst Daniel Ives raised the price target on Apple (NASDAQ: AAPL) to a 'Street High' $400.00 (from $350.00) while maintaining an Outperform rating.

• 5G Super Cycle Thesis
• poised to handily beat Street expectations on Tuesday
• "... overwhelming positive data points we are picking up from the supply chain with the Street still underestimating the magnitude of this 5G upgrade cycle in our opinion."
• "... recent Asia checks around iPhone 11 units look robust and coupled with "jaw dropping" AirPods momentum should lead to clear upside in the upcoming results with strong March guidance also likely on the horizon."

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