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Apple Gains Midday on More iPhone 11 Enthusiasm

Published 10/09/2019, 11:49 AM
Updated 10/09/2019, 11:50 AM
© Reuters.

Investing.com - Apple (NASDAQ:AAPL) was higher in midday trade on Wednesday after analysts at Canaccord Genuity raised the company’s target price to $260 from $240.

Analyst T. Michael Walkley said the rise was due to indicated sales strength of the iPhone 11.

"Based on our North American survey work, iPhone models maintained leading market share at all (four) major U.S. carriers, with share up strongly in September driven by the iPhone 11,” he said, according to Briefing.com.

As a result of the higher sales, “we believe the September quarter results could come in at the high end of guidance,” he added.

Apple (NASDAQ:AAPL) was up 1.1% to $226.78 after the upgrade.

Latest comments

Apple was dominant when Jobs ran things. Im loving the innovation Android brings to the forefront. Note 10 plus does things that Apple seem to don't care about because the same boring *******out every single year.
Ugly with lack of innovation. Also the majority of soled I phones is in the states. Europe and China are mainly buying the competitors.
Guidance is low so it is easy to beat
Compared to chineses ones, it is garbage. Chineses will not buy it, neither I. So, meltin gup for what reason?
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