Could the iPhone 12 Propel Apple’s Stock Past $500?
Apple's (NASDAQ: AAPL) stock is hovering near an all-time high after nearly tripling over the past five years, but Wedbush analyst Daniel Ives recently claimed the stock still has a "lot of gas left in the tank" and hiked his price target on the stock from $375 to $425.
Furthermore, Ives believes Apple's stock could eventually hit $500 a share in a "bull case" scenario, buoyed by rebounding sales in China, pent-up demand for the iPhone 12 amid 5G upgrades, and the COVID-19 crisis bolstering its services segment.
Ives also claims the tech giant, which has a market cap of $1.6 trillion, could become the first $2 trillion company by 2021. Investors should always take analysts' forecasts with a grain -- or maybe even a whole pillar -- of salt, but could Apple actually top $500 per share in the near future?
Source Fool.com
