Apple Price Target Up to $355 at Canaccord; Trends Seen Strong Through 2021



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    At Apple (AAPL) - Get Report "strong trends across all business lines should continue through 2021," with services the leading growth driver, Canaccord Genuity analyst T. Michael Walkley said.

    In a note the analyst affirmed a buy rating on the Cupertino, Calif., tech giant and lifted his price target 29% to $355 from $275.

    The new target indicates 14% potential upside from the stock’s Tuesday closing price. At last check, the shares were up 0.5% at $314.20.

    “[Apple’s] ecosystem approach, including an installed base that exceeds 1.4 billion devices globally, is leading to record services revenue, and we expect the higher-margin service revenue growth to continue outpacing total company growth,” Walkley wrote.

    In services, “the pricing of Apple TV+, which is at the low end among competing ...

     

     

    Read Full News: https://www.thestreet.com/technology/apple-affirmed-buy-price-target-up-to-355-at-canaccord-genuity


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