Apple (AAPL) PT Raised to $405 at Jefferies; 'Incrementally Confident' in 5G Cycle

June 19, 2020 7:13 AM

Jefferies analyst Kyle McNealy raised the price target on Apple (NASDAQ: AAPL) to $405.00 (from $370.00) while maintaining a Buy rating, saying they are incrementally confident in Apple’s opportunity with the 5G cycle.

"Specifically, we feel better about Apple’s ability to hold retail pricing for the fall 5G launch relatively consistent with last year while maintaining solid gross margin performance," McNealy said.

The analyst highlighted:

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