Survey data indicate a "significant pent-up demand" in China for Apple's (AAPL) upcoming iPhone 8 smartphone, Maxim Group analyst Nehal Chokshi said in a report Monday.
The data prompted Chokshi to raise his 12-month price target on Apple stock to 180 from 171, while keeping his buy rating. Apple stock was up 2.8%, near 146.30, in afternoon trading on the stock market today.
Maxim's May survey data showed strong purchase intent for the iPhone 8 among a sampling of consumers. Of 197 Chinese...