Apple stock upgraded as company is expected to benefit from and help drive 5G expansion

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.”

MacDailyNews Note: In mid-December, Mohhan raised his Apple price target to $210.
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