Wedbush Says Apple Is Worth Nearly $1.6 Trillion
Already one of Apple's (NASDAQ: AAPL) most bullish Street analysts, Wedbush analyst Daniel Ives put out a research note to investors this week suggesting that Apple's market cap could soon be nearly $1.6 trillion. Ives reiterated his overweight rating, equivalent to a buy, on Apple shares while increasing his price target from $325 to $350.
Based on Apple's 4.4 billion shares outstanding, that price target represents over 20% upside from current levels and would put the company's total valuation at $1.55 trillion.
Image source: Apple.
Source Fool.com