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Analysts at investment bank Evercore ISI recently raised their price target on Apple (AAPL) stock, citing what they see as a “sizeable catalyst” for the iPhone maker. But history indicates that the upcoming development that they are touting may not move the needle for AAPL stock.
The investment bank's note was issued amid a fairly good run by AAPL stock. Specifically, in the three months that ended on Dec. 8, the shares had advanced 22.5%.