Apple rises in premarket on 5G iPhone rating boost

Thursday, 18. July 2019 14:15

Apple Inc. gained slightly on Thursday before the opening bell on the Nasdaq, helped by an upgrade to outperform from the market perform level by Raymond James. The investment banking company pointed to indications that the iPhone maker has the ambition to roll out the fifth generation mobile technology on more models of the device, in contrast to the previous strategy including Intel's components. The price target was set at $250 per share compared to yesterday's closing level of $203.35.

Analysts who wrote the report stressed the focus on next year for the introduction of 5G and noted the significance of the settlement with Qualcomm as it would enable chief executive Tim Cook access to its solutions in the segment. They acknowledged downward pressures on the flagship product and warned stocks may still cheapen this year before a rebound.

The software and handset maker was up 0.32% in the premarket, struggling to hold at the same time as the technology sector was hit by unconfirmed reports that bilateral trade talks between the United States and China hit a wall once more over the future status of Huawei.

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