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Analysts raise Apple price targets but Nomura warns the music may stop

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FAANG stocks displayed at the Nasdaq.

Adam Jeffery | CNBC

Morgan Stanley and Nomura analysts on Friday raised their price targets for Apple stock as the tech giant’s shares continue to surge.

However, the latter cautioned that inflated iPhone 12 expectations “may make the music stop” and questioned market enthusiasm about a “5G supercycle.”

In analyst notes published early on Friday, Morgan Stanley increased its price target for Apple from $296 per share to $368 per share while Nomura lifted its projection from $225 per share to $280 per share.

The good

Apple’s stock is up a staggering 103% over the past 12 months, and Morgan Stanley analysts projected that it will continue to outperform its…



Source cnbc.com

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