Apple Inc Stock Forecast:
Apple Inc‘s stock forecast by 43 analysts indicates an average target price of USD 180.93 for the next 12 months, with an average analyst rating of Strong Buy. Stock Target Advisor‘s analysis of Apple Inc’s stock is Bullish, based on 13 positive signals and 5 negative signals. As of the last closing, Apple Inc’s stock price was USD 165.79, having decreased by 1.56% over the past week, increased by 0.10% over the past month, and decreased by 0.14% over the last year.
Analysts Coverage Change:
- KeyBanc Capital Markets (RANK #23) maintains Apple Inc. as “Overweight” and raises the price target to $180 from $177.
- Needham & Company (RANK #30) maintains a “Buy” rating for Apple and raises the price target to $195 from $170.
- Monness, Crespi, Hardt & Co. (RANK #95) maintains a “Buy” rating and raises their price target to $188 from $174.
- Piper Jaffray Companies (RANK #16) maintains an “Overweight” rating and lowers the price target to $180 from $195.
- Morgan Stanley & Co. (RANK #1) rates Apple stock as a “Top Pick” with a price target of $185.
- Deutsche Bank (RANK #7) maintains a “Buy” rating for Apple and raises the price target to $180 from $170.
- D. A. Davidson & Co. (RANK #37) raises the price target to $193 from $173.
- Rosenblatt Securities (RANK #58) raises the price target to $198 from $173.
- Atlantic Securities (RANK #106) maintains Apple as “Overweight” and raises the price target to $200 from $180.
Apple Inc. has once again shown its resilience in a slowing global economy with better-than-expected iPhone sales, bolstering the tech giant’s results to beat expectations on Thursday. This is great news for the company, which has faced headwinds in recent years, including a shaky global economy, increased competition, and disruptions to its supply chain due to the COVID-19 pandemic.
Apple has increased its iPhone sales, which is its biggest source of revenue. In the first quarter of 2023, the company sold 52.2 million iPhones, up from 50.8 million in the same period last year, marking a modest but significant increase.
One reason for this growth is Apple’s ability to expand into new markets. The company has made notable inroads in India, where it has been working to gain a foothold in the rapidly growing smartphone market. In the first quarter of 2023, Apple’s revenue in India increased by 36% year-on-year, driven by strong iPhone sales.