Many analysts view Apple as one of the best 5G stocks as wireless phone companies expand 5G mobile networks.
Reinhardt Krause for Investor’s Business Daily:
It’s early days in 5G, said Oppenheimer analyst Timothy Horan in a recent report.
“5G is critical for the development of artificial intelligence, robotics, and cloud, with the latter converging with wireless/wireline networks, enabled by dozens of new technologies,” said Horan. “We’re only in the first year of a 10-year buildout that will create a new food chain and new unpredictable applications.”
Analysts expect Apple stock to get a boost from the rollout of iPhone 13 models. Bank of America upgraded Apple stock to buy on Dec. 14.
“We expect Apple to introduce an augmented reality/virtual reality headset, either by the end of 2022 or early 2023,” said BofA analyst Wamsi Mohan in a report. “We view this technology as a game-changer as it will enable many new applications which will require high performance hardware and higher access speeds.”
He added: “We now expect a stronger iPhone upgrade cycle in fiscal 2023 driven by the need for higher connectivity where augmented reality becomes the killer app for 5G.”
Technovanguard Note: In mid-December, Mohhan raised his Apple price target to $210.
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