The Ratings Game: Apple stock gets an upgrade as analyst sees ‘compelling’ reason to buy forthcoming iPhone models

The coming iPhone new product cycle may be a non-event, but rising conviction in a strong 2020 lineup has one analyst feeling bullish about Apple Inc.’s prospects.

Raymond James analyst Chris Caso upgraded Apple shares AAPL, -1.49% to outperform from market perform on Thursday, writing of his growing optimism for the 5G iPhone models that the company is expected to launch next year. Caso now believes that Apple will offer 5G models across the price spectrum, helping to provide a “compelling” reason for upgrades at a time when Apple is increasingly selling “legacy” devices.

“With an aging installed base, we think a reasonably priced 5G phone will be a very compelling upgrade,” Caso said in his note to clients.

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