Wedbush: Apple Could Surge 40%
According to Business Insider Apple could benefit from a massive upgrade cycle for its iPhone install base.
In a note published on Wednesday, Wedbush raised its Apple price target to $600.
Webush's bull-case price target to $700, representing upside potential from current levels of 20% and 40%, respectively.
According to Wedbush, the upcoming iPhone 12 will represent the most significant product cycle for Apple since 2014's iPhone 6
Wedbush says Wall Street is underestimating the "massive pent-up demand" of the upcoming iPhone 12.