Apple Results Had ‘No Blemishes,’ According to Wall Street
- Analysts positive on iPhone 11 demand, services and wearables
- Apple shares gain as much as 2.2%, with stock near record
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Apple Inc.’s results were praised for a quarter which had “no blemishes,” according to Wedbush, as demand for recently-released iPhone 11 models bodes well for the holiday period. Multiple analysts raised price targets, with a new Street-high from Morgan Stanley implying 22% upside for the tech giant.
Analysts were also positive on the performance of Apple’s services business and sales of wearable technology. Looking further ahead, the potential release of a low-cost SE2 iPhone model as well as 5G-enabled devices may provide a further boost.