Two major analysts just got more bullish on Apple

Bank of America and RBC Capital Markets raised their price targets for Apple to $330 per share.

's Wamsi Mohan and RBC Capital Markets' Robert Muller both raised their price targets on the consumer tech giant to $330 per share, about 10% higher than the stock closed on Thursday.

Both banks cited strong iPhone demand as a reason for confidence. RBC, which previously had a target of $295 per share, said in a note to clients that the current iPhone model was generating more social media mentions than other recent versions. "In short, 11/11 Pro interest has been higher and higher-for-longer, which we expect to support Dec-qtr sales results," Muller said in the note.

Bank of America, which previously had a target price of $290 per share, projected strong performance across Apple's business segments, including the App Store. "Longer-term Apple benefits from 5G adoption, strong wearables portfolio, and continued y/y gross profit dollar growth which is favorable for stock price trend," Bank of America said in a note.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What You Should Actually Watch on Apple TV PlusCome for the Jen An/Reese Witherspoon face-off, stay for Emily Dickinson chugging opium.
Read more »

Value is beating growth only because of the way Apple is classifiedThe much-publicized success of value stocks in 2019 looks different when you drill down into specifics, Karen Firestone writes.
Read more »

What You Should Actually Watch on Apple TV PlusCome for the Jen An/Reese Witherspoon face-off, stay for Emily Dickinson chugging opium.
Read more »

Here's What You Need to Know About the Calorie Counts on Your Apple WatchFitness trackers aren't a perfect science, but they can help.
Read more »

‎Five Things with Lynn Hirschberg: Episode 4: Noah Baumbach on Apple PodcastsListen to W's newest FiveThings podcast episode featuring Marriage Story director Noah Baumbach, here.
Read more »

What You Should Actually Watch on Apple TV PlusCome for the Jen An/Reese Witherspoon face-off, stay for Emily Dickinson chugging opium.
Read more »