• NEWS DESK

APPLE STOCK REBOUNDS ALMOST 7%


SAN FRANCISCO (Reuters) - Shares in Apple (AAPL.O) surged 6.9% on Monday, helped by a broad Wall Street rebound and an upgraded rating from an analyst who said the iPhone maker’s stock had become oversold following last week’s rout related to fears about the new coronavirus.

Oppenheimer upgraded its rating on Apple to “outperform” from “perform”, saying the Cupertino, California, company was more prepared than its competitors to absorb the impact of the global health crisis. Apple’s stock tumbled over 16% from its record high on Feb. 12 through Friday.


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