Apple Gains for Fifth Day as Cowen Touts Growth in Services
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Apple Inc.’s services business should help drive long-term upside in the stock, while the iPhone will likely serve "as an annuity," Cowen said, starting coverage with a buy-equivalent rating.
Shares rose as much as 1.3 percent, putting the stock on track for its fifth straight positive session, its longest such streak since one that ended Feb. 6. At current levels, Apple is trading at its highest level since early December.