Apple (AAPL): Wireless Charging On Its Way - Cowen

Cowen analyst, Timothy Arcuri, reiterated his Outperform rating on shares of Apple (NASDAQ: AAPL) after channel feedback indicates that the company is ready to get on board with wireless charging for the upcoming iPhone 10/X with Broadcomm Ltd. (NASDAQ: AVGO) as the chip supplier.

The analyst believes that the company has delayed embracing wireless charging because solutions are no more convenient than plugging a lightning cable into a USB port, However, he believes that automotive application has clear benefits.

Further, the analyst said contrary to other reports, they think that the choice of Energous (NASDAQ: WATT) is exceedingly unlikely.

No change to the price target of $135.

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 $135.72 yesterday.

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