Wedbush Reiterates Outperform Rating on Apple (AAPL)

Wedbush analyst Daniel Ives reiterated an Outperform rating and $270.00 price target on Apple (NASDAQ: AAPL)

The analyst comments: "President Trump and Tim Cook just held an event at the White House where Apple announced it will invest an additional $100 billion in the US bringing the total investment to $600 billion over the next 4 years ($500 billion + 20k new jobs committed in February) and new initiative called the American Manufacturing Program dedicated to further expanding US manufacturing and supply chain operations in light of continued tariff tension with the Administration. The American Manufacturing Program will help fund a major expansion of Apple's long-standing partnership with Corning, bringing the company’s smartphone glass production line to Corning’s factory in Kentucky."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $213.25 yesterday.

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