Apple Stock Is Surging Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Apple Inc (NASDAQ:AAPL) shares are surging to new all-time highs after DA Davidson upgraded the stock from Neutral to Buy and raised the price target to $230. The upgrade follows AI-related announcements at Apple's Worldwide Developers Conference 2024, which are expected to drive a new iPhone upgrade cycle. Several other analysts also weighed in, with mixed ratings and price targets ranging from $164 to $225.
June 11, 2024 | 3:06 pm
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Apple shares are surging after DA Davidson upgraded the stock to Buy and raised the price target to $230, driven by AI-related announcements at WWDC 2024. Other analysts have mixed ratings, with price targets ranging from $164 to $225.
The upgrade by DA Davidson and the raised price target to $230 are significant positive signals for Apple stock. The AI-related announcements at WWDC 2024 are expected to drive a new iPhone upgrade cycle, which is likely to boost Apple's revenue and stock price in the short term. The mixed ratings from other analysts provide a balanced view but do not overshadow the positive impact of the DA Davidson upgrade.
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