Apple analysts have grown more positive on the company’s prospects, pointing to the upcoming launch of a 5G version of the iPhone, as well as continued growth in its services business.
This follows a four-day advance of more than 9%
Shares of Apple dipped 1.5% in pre-market trading on Thursday.
The firm reiterated its overweight rating, expecting investors will continue to view Apple “as a favoured high-quality large cap name”, especially given the anticipated 5G iPhone.
The firm expects to see a “successful” 5G iPhone launch in the third quarter of 2020, and also noted growth in Apple’s services business.
Currently, 29 of the firms tracked by Bloomberg have the equivalent of a buy rating on Apple’s stock, compared to 12 with a hold rating.
