Apple Stock Hovers near All-Time High; Gets two price target increases

“Tech behemoth Apple received two price-target increases on its stock on Tuesday as excitement builds for its upcoming iPhone 8 release,” Patrick Seitz reports for Investor’s Business Daily. “”

“Guggenheim Securities analyst Robert Cihra reiterated his buy rating on Apple stock and raised his price target to 180 from 150,” Seitz reports. “UBS analyst Steven Milunovich maintained his buy rating on Apple stock on Tuesday, but upped his price target to 151 from 138.”

“Cihra expects iPhone unit sales growth and average selling price increases to re-accelerate over the next two years,” Seitz reports. “He also believes the iPhone 8 upgrade cycle will be extended because of the limited supply of new OLED displays. Instead of a one-year supercycle of upgrades, it could be a two- to three-year extended cycle, Cihra said in a report.”

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