Apple Stocks Gain as Much as 3.3% Despite Trade War
Despite the trade war between China and the United States, Apple stocks have jumped as much as 3.3% in the past three weeks.
The Albatross
Wedbush analyst Dan Ives wrote that “The trade truce removes “the albatross” that has been around Apple Chief Executive Officer Tim Cook’s neck, and the shares could add as much as $25 as a result.” This would bring Apple back over its US$1 trillion market evaluation.
The S&P 500 Information Technology Index is being pushed to a record high in part because of Apple’s stock rebound. Currently Apple’s stock price is US$202.20, with analysts aiming for a target of US$230-US$235.
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