Source: Benzinga Feeds
The Wuhan coronavirus outbreak is likely to have a profound impact on the global economy given China’s significance to overall global growth. Tech giant Apple Inc. (NASDAQ: AAPL ) announced it will shut of all its stores and corporate offices across mainland China until Feb. 9 due to the virus outbreak. The Apple Analyst Wedbush analyst Matt Bryson reiterated an Outperform rating on Apple with a $400 price target. The Apple Thesis Much of the consumer buying of iPhones/AirPods in China and the surrounding countries has already taken place in the lead-up to the start of the Chinese New Year that officially began Jan. 25, Bryson said in a Monday note. (See his track record here .)on the books, with sales growing markedly year-over-year, as evidenced by Apple’s strong earnings and guidance, the analyst said. The limited transportation in major Chinese cities could dent iPhone sales in the … Full story available on Benzinga.com
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