Shares of Apple Inc. rose 0.7% toward a record high in afternoon trading Monday, to buck the selloff in the broader stock market, as the technology giant extended its big lead as the best performer this year among Dow Jones Industrial Average components. The stock was the Dow's only gainer, as the Dow tumbled 177 points. Apple's stock had run up 85.1% year to date, while the next best Dow performer this year has been Microsoft Corp.'s stock , which has run up 55.3%. Wedbush analyst Dan Ives said in a research note Monday that he expects 2020 to be the year of the "5G Super Cycle," and Apple will be the "clear winner" in 5G. Ives rates Apple outperform with a $350 stock price target, which is 20% above current levels. Separately, Ives said Microsoft and Satya Nadella, the software giant's chief executive, will win the next state of the cloud war versus Amazon.com Inc. and Amazon CEO Jeff Bezos. Read More...
Shares of Apple Inc. rose 0.7% toward a record high in afternoon trading Monday, to buck the selloff in the broader stock market, as the technology giant extended its big lead as the best performer this year among Dow Jones Industrial Average components. The stock was the Dow’s only gainer, as the Dow tumbled 177 points. Apple’s stock had run up 85.1% year to date, while the next best Dow performer this year has been Microsoft Corp.’s stock , which has run up 55.3%. Wedbush analyst Dan Ives said in a research note Monday that he expects 2020 to be the year of the “5G Super Cycle,” and Apple will be the “clear winner” in 5G. Ives rates Apple outperform with a $350 stock price target, which is 20% above current levels. Separately, Ives said Microsoft and Satya Nadella, the software giant’s chief executive, will win the next state of the cloud war versus Amazon.com Inc. and Amazon CEO Jeff Bezos.
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