Apple stock gained over 11% last week, marking its strongest weekly rally in close to five years, amid a possibility that the iPhone 7 upgrade cycle could pan out to be stronger than expected. Supply for the new smartphones has been short, with most models witnessing 2 to 3 week shipping lead times, and initial demand is apparently skewed toward the pricier, higher-margin 7 Plus device. Below we take a look at some of the reasons for the run up of Apple’s stock price and what lies ahead.
Trefis has a $120 price estimate for Apple, which is slightly ahead of the current market price.

from Forbes – Tech http://ift.tt/2cZ7ct4
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