Daniel Ives, an analyst at Wedbush, believes Apple will achieve a “5G supercycle” by 2020. Wedbush listed Apple’s stock as the best 5G-related stock, calling it a “clear winner” on Wall Street. Wedbush expects Apple to launch at least one 5G iPhone next fall and keep Apple’s stock superior to the broader market and a target price of $350.
Apple’s share price was strong in 2019, ranking eighth in the Standard and Poor’s 500 IT index, up 84 percent. Given its size, the iPhone maker has so far been the biggest contributor to the index’s rise.
Loup Ventures, a leading US research venture, predicts that Apple will continue to lead big technology stocks next year, with another 20 per cent expected in 2020.
Apple’s shares were down 0.63 percent at $287.96.