- After a lower close Wednesday that broke a streak of record-high wrap-ups, Apple (NASDAQ:AAPL) has been back on the upswing, ending yesterday up 0.5%, and now back in record close territory again today, up 1.4% after some notable price target hikes.
- BofA Merrill Lynch raised its target to $180 from $155, implying 15% upside ahead, noting that healthcare apps and a premium auto market (estimated at $700B) have significantly expanded the company's total addressable market, with easy entry points through M&A because of massive cash on hand.
- Analyst Wamsi Mohan boosted the estimate for 2019 EPS to $12.54 from $12.06.
- Meanwhile, Goldman raised its target to $170 from $164 based on upside from what it expects will be the first $1,000 iPhone.
- The firm's Simona Jankowski expects blended iPhone ASP of $763 (up 16%) in fiscal 2018, and forecasts the iPhone 8 to come in two models: a 128 GB model priced at $999, and a 256 GB model at $1,099.
- Now read: Apple: A Power In Streaming Music
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