Apple Higher On Bullish Call, Battery Talks

SourceYahoo News

Oops!Something went wrong.Please try again later.June 8, 2021, 6:07 AM·1 min readOops!Something went wrong.Please try again later.

By Dhirendra Tripathi – Apple shares (NASDAQ:AAPL) rose 0.7% Tuesday on positive sentiment created by a very bullish call and reports that the iPhone maker is in talks with Chinese manufacturers for a supply of batteries for its rumored electric car.

Apple could hit a $3 trillion market capitalization next year, according to Wedbush analyst Dan Ives.

“We think ultimately 12 to 18 months from now,” Ives told CNBC’s ‘Street Signs Asia’ when asked about a possible timeline to the next milestone.

Apple is the world’s most valuable company, with a market cap of around $2.11 trillion.

Ives has a target of $185 for the Apple stock, an approximately 27% upside to its current price of $126.77.

The analyst values Apple’s software services business at about $1 trillion and sees it about $1.5 trillion under the $3-trillion valuation scenario.

Moving to news from views, Reuters said the tech giant more...