Raymond James Upgrades Apple (AAPL) to Outperform on 5G iPhone Cycle

(Updated - July 18, 2019 7:40 AM EDT)

(updated to add analyst comments)

Raymond James analyst Chris Caso upgraded Apple (NASDAQ: AAPL) from Market Perform to Outperform with a price target of $250, citing greater confidence in next year's 5G iPhone cycle following the Qualcomm settlement, .

• recent checks suggest that Apple plans to bring 5G to a wider range of iPhone models, which is different from their plan when they had intended to use Intel’s modem.
• offering 5G at lower price points will drive a stronger product cycle, and early production plans tend to confirm that view.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $203.35 yesterday.

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