2019 was the year of Apple stock, so far. 2020 also looks to be a bull market year for the stock. At the close of 2019, the stock finished with an 86% increase for the year. The value increased by half in the last six months alone. Analysts now direct a new target price increase at the tech giant’s stock.
The present target price for the stock is $266. Apple passed that figure already. As of the first week of January, the stock price hit $297. It could reach $300 during the second week, although there’s no guarantee this would occur. No guarantees exist with any stock on the Dow Jones. Analysts, however, are free to speculate. One analyst even suggested 2020 would see an increase in Apple’s share price by $100. Such an assessment is wildly optimistic. The figure would represent a 33% or so increase in the current price. Again, the stock did increase by 86% in 2019, so the prediction is not entirely outrageous. That said, opinions don’t automatically translate into results.
Apple’s fortunes appear positive for 2020. Of course, investors must wait 12 months to see how things turn out. At present, top analysts don’t see the price rising to $400 per share, but they did raise their target number. One CFRA analyst upped his Buy rating from $275 to $330, a $55 increase per share.
Ironically, 2019 also saw the value of Apple stock drop down to the $160 range. The price did bounce back to massive highs, highs that few expected.
Several reasons exist why Apple’s stock does so well. In China, buyers took to the iPhone 11. China isn’t the only market where the iPhone 11 does well, but the size of China’s market does deliver an impact. The arrival of Apple+ TV presents a new streaming entertainment option, one that could further provide massive revenues if it takes off
Dil Bole Oberoi
