7 days ago • Posted by William Ramstein

Apple price target raised to $166 by UBS

Apple shares have rallied more than 20% since early June, a rally attributed to three factors. First, there has been a "flight to quality big tech names," with Apple, Amazon.com (AMZN), Alphabet (GOOG), Microsoft (MSFT), and Facebook (FB) all outperforming the S&P 500 over the same period. Second, growth at the App Store accelerated in June, "supporting the view of secular services growth." and lastly, data on Apple's supply chain suggests strong growth in iPhone production. Source: Barrons