Wedbush analyst Dan Ives raises his Apple (NASDAQ:AAPL) goal from $350 to $400, saying the Avenue is underestimating the “magnitude of the 5G improve cycle.”
Ives cites checks with Apple iPhone suppliers that implied that prospects need to purchase.
The analyst calls the AirPods demand “jaw dropping” and expects upbeat earnings and steerage subsequent week.
Apple will report earnings on January 28.
Apple shares are up zero.three% pre-market to $320.25. The corporate has a Bullish common Promote facet ranking.