Wedbush analyst explains street high price target

Wedbush analyst Dan Ives earned the unofficial title of Wall Street’s biggest Apple Inc. (NASDAQ: AAPL) after setting a base case $600 price target and a $700 target under a bull case scenario.  The thesis Apple will continue facing near-term headwinds from the COVID-19 pandemic as consumer demand trends remain unclear, the analyst explained in a research report. But over the next 12 to 18 months, the iPhone maker will face a “once in a decade” opportunity to rake in tens of billions of dollars in sales. Approximately 350 million of the 950 million iPhone devices are getting old and