Apple stock hits intraday record after analyst upgrades bear rating

Apple’s stock price touched a new intraday high on Wednesday after analyst Jeff Kvaal of Wolfe Research upgraded his rating after nearly a year bearish warnings.

NASDAQThe tech giant’s stock peaked at a new high of $154.98 in early trading before settling at $152.51 at the closing bell. Shares are currently up less than a point in after hours trading.Part of the bump is being credited to Kvaal’s — conservative — rethinking of Apple’s business future. The analyst in a note to investors upgraded AAPL to peer perform on the basis that iPhone demand is expected to continue unabated, reports MarketWatch.

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