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Wall Street: Apple Bulls Charge Again (Video)

Less than a week after Apple’s first Wall Street downgrade in recent memory, bulls weigh in once again. One analyst now sees Apple shares rising 30% to a market cap of $2.6 trillion.

Wall Street continues to support Apple’s stock. On Monday, August 10, two analysts who already had a buy rating increased their price targets.

Wedbush’s Dan Ives now has a Street-high target of $600 per share, suggesting a very sizable 30% upside from the current price level. He has been one of the most vocal experts to support the bullish case on the stock lately.

Deutsche Bank’s Jeriel Ong was a bit less bold. His modest $40 target bump to $480 per share, suggesting less than 10% upside, look more like a stock price chase than a firm reiteration of his bullishness. As a counterargument to his optimism, Jeriel cites a high bar being set on future revenues and earnings to justify the current stock price.

Watch the brief video above for more information on the recent Wall Street price target increases.

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(Disclaimers: the author may be long one or more stocks mentioned in this report. Also, the article may contain affiliate links. These partnerships do not influence editorial content. Thanks for supporting The Apple Maven)