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Cowen bumps AAPL to $470, says it's a 'defensive stock' for a post-coronavirus world

Investment bank Cowen has raised its AAPL price target to $470 on Apple's better-than-expected June quarter results and its continuing status as a "defensive" stock.Credit: Andrew O'Hara, AppleInsiderDuring the June quarter, sales of iPhones were resilient and strong Mac and iPad demand showed the "durability" of Apple's portfolio, lead analyst Krish Sankar wrote in a note to investors seen by AppleInsider. The results have set an "encouraging outlook" for Apple into 2021, based mostly on continued Services momentum and the upcoming "iPhone 12" cycle. Read more......

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Published By: AppleInsider - Friday, 31 July