Apple received a price-target boost from Wedbush Securities analyst Daniel Ives, as he is hopeful of iPhone 12’s impact on Apple’s performance.
Ives lifted his one-year price target on the iPhone maker's shares to $350 from $335. Ives believes that rollout of the iPhone 12, which is expected in October, will help boost the post-pandemic prospects for the company.
iPhone 12 should help bolster sales in the final quarter of the year and into 2021, according to Ives. The new phone will be 5G-enabled, with more screen space and new features such as a LIDAR-enabled camera.