Apple shares inched higher Thursday, following a rating upgrade by Raymond James.
Analysts at Raymond James raised their rating on the iPhone maker’s shares to outperform, on their optimistic outlook on the company’s 5G wireless plans. The analysts indicated that Apple will likely offer 5G at lower price points and enable 5G capabilities for a wider range of iPhone models than previously expected.
However, Raymond James’s analysts did express concerns over the immediate scenario for Apple. They feel that currently Apple's iPhone sales face challenges, since Apple has been increasing prices for its flagship phones at a time when innovation between the different models is slowing.
But the analysts are hopeful that better bandwidth and improved connectivity of 5G technology will further strengthen the case for the rating upgrade.