Piper Sandler analyst Harsh Kumar raised the firm’s price target on Apple to $200 from $175 and keeps an Overweight rating on the shares. The analyst believes Apple has a favorable setup for 2022. iPhone momentum will continue due to 5G adoption, particularly in the United States and China, and growth in services and wearables will offset concerns in Mac and iPads, Kumar tells investors in a research note. The analyst feels “technology investors should look at Apple as a ‘place to hide’ in the current environment.” In addition, he sees healthcare and automotive “as the next major growth markets for the company.”
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