Apple Stock Nears Another Record. Analysts’ iPhone Outlooks Keep Going Up. [Yahoo! Finance News]
Apple Inc. (AAPL)
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Source: Yahoo! Finance News
Text sizeApple stock continued its rise on Friday.Sascha Steinbach/Getty Images for Appleanalyststo ratchet upexpectationsThe consensus forecast calls for $102.8 billion in revenue and earnings of $1.40 a share. The Street is looking for huge iPhone sales after the launch of the iPhone 12 lineup late last year, with continued strength as well from Macs, iPads, wearables, and services.On Friday, Cowen analyst Krish Sankar repeated his Outperform rating on Apple (ticker: AAPL) shares, upping his price target to $153, from $133.Sankar expects the company to beat expectations for the quarter at both the top and bottom lines, driven in particular by strong iPhone demand. He’s projecting $104.5 billion in revenue and profits of $1.46 a share. The analyst estimates Apple sold 77 million iPhones in the quarter, up 97% sequentially and 7% year over year. He sees iPhone revenues of $60.1 billion, up 7% from a year ago, with services revenue increasing 26% to $16 billion.Apple remains Sankar’s t
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