- The shares of Apple Inc (NASDAQ: AAPL) have received a $205 price target from Wells Fargo. These are the details.
The shares of Apple Inc (NASDAQ: AAPL) have received a $205 price target from Wells Fargo. And Wells Fargo analyst Aaron Rakers is maintaining an “Overweight” rating on the shares.
Rakers adjusted the rating while believing that the more compelling reason Apple is launching payments/financial services has been explained by its expand and monetize the ecosystem strategy with the main motive being to increase customer loyalty, drive greater revenue per user, and improve the user experience/utility of the company’s products/operating systems.
Going forward, Rakers does not expect the expansion of Apple’s payments ecosystem to drive material revenue/earnings for the company over the near-term to medium-term. Plus Rakers believes that the initiatives can be additive to customer loyalty and expand the utility of being an Apple user. It has been difficult to quantify these metrics, but it is critically important in Rakers’ opinion.
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