Will Peloton's investors have a huge 2021 after a big 2020? Wall Street weighs in.
A third class action lawsuit has been filed in Europe against Apple seeking compensation -- for what Italy's Altroconsumo consumer protection agency dubs "planned obsolescence" of a number of iPhone 6 models. The action relates to performance throttling Apple applied several years ago to affected iPhones when the health of the device's battery had deteriorated -- doing so without clearly informing users. The class action suit in Italy is seeking €60M in compensation -- based on at least €60 in average compensation per iPhone owner.
Shares of Apple (NASDAQ: AAPL) have already climbed 79% over the past year, but will surge to new all-time highs in 2021. Today, Ives raised his price target on Apple's stock to $175 from $160, but also laid out a bull case for why the stock could climb to as high as $225. Ives cited the potential for "eye-popping" iPhone sales, saying that checks of Apple's supply chain in Asia showed strong demand for the device.