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Apple Inc.’s stock is extending its slide in the wake of its latest iPhone announcements. But investors fixating on a lack of across-the-board price increases are missing the big picture, according to Melius Research analyst Ben Reitzes.
Apple
AAPL is officially “out of the woods” after the iPhone launch event and positioned for higher revenues, Reitzes said. On Wednesday, Reitzes reiterated his buy rating and raised his price target to $290 from $260, the highest among analysts polled by FactSet.
This post was originally published on Market Watch
