Apple Rises 1.1% to $365 as Citi Lifts Target by $50
Updated
Updated · CNBC · Jul 13
Apple Rises 1.1% to $365 as Citi Lifts Target by $50
3 articles · Updated · CNBC · Jul 13
Summary
Apple shares gained 1.1% to $365 on Monday after Citi raised its price target to $365 from $315.
Citi said Apple can keep taking market share even after raising prices on some MacBook and iPad models to offset higher memory costs.
The advance came in a weaker market, with semiconductor stocks sliding on profit-taking and West Texas Intermediate crude rising about 4% to roughly $74 a barrel after renewed U.S.-Iran airstrikes.
Apple also sued OpenAI late Friday, alleging trade secret theft, adding a legal front to investor focus as markets enter a busy earnings week.