Apple stock is up 2.42% at 152.57 as of 12:20 p.m. ET on Monday. Shares of the tech giant are rallying following an extremely bullish analyst report from investment bank Drexel Hamilton.
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Apple just got its highest price target ever — and it values the company at more than $1 trillion (AAPL)
Shares of the tech giant are rallying following an extremely bullish analyst report from investment bank Drexel Hamilton.
6. Apple
Equity analyst Brian White sent out a note to clients that said that shares will reach $202, giving the company a valuation of $1.053 trillion in the next twelve months. That's the highest price target on Wall Street and implies a 32% potential upside for investors. The analyst previously had a price target of $185.
Shares of Apple are already up 31% so far this year.
"In our view, Apple's quarterly results will be less important this summer as investors are focused on the iPhone 8 this fall, along with the company's raised capital distribution initiative, depressed valuation, and potential new innovations," White wrote. "We believe Apple remains among the most underappreciated stocks in the world."
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