$155 Target (Raised From $140) By Wells Fargo

  • The stock price of Apple Inc (NASDAQ: AAPL) has received a price target increase from $140 to $155 by Wells Fargo. These are the details.

The stock price of Apple Inc (NASDAQ: AAPL) has received a price target increase from $140 to $155 by Wells Fargo. Wells Fargo analyst Aaron Rakers is also maintaining an “Overweight� rating on Apple shares.

Rakers cited data from The China Academy of Information & Communications Technology as the reason for the price target update. The China Academy of Information & Communications Technology had published data about December smartphone shipments — which showed strong sales for the iPhone 12.

The total mobile phones shipped in December 2020 was about 26.6 million, which is a decline of 13% year-over-year and 10% month-over-month. Rakers said that based on the data, he believes Apple will post an upside to the current expectations. And he also likes Apple’s continued strong capital allocation.

Disclosure: I have a small AAPL position in my stock portfolio.

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