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08.12.2019 19:45:00

This Investment Bank Says Apple Stock Is Worth $300

Apple (NASDAQ: AAPL) investors are in store for a fun holiday season.Citigroup (NYSE: C) says blockbuster sales of the tech titan's AirPods and Apple Watch products are likely to fuel higher-than-expected revenue and earnings during the holiday quarter. In turn, the investment bank reiterated its buy rating on Apple's stock and boosted its target price from $250 to $300. "We believe consensus is underappreciating the Apple Watch and Apple AirPods demand strength," Citi analyst Jim Suva said, adding that the company's wearables segment is "likely to surpass $10 billion of quarterly sales this quarter." Continue reading
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