Apple Inc. (AAPL;NSD) Morningstar sees Stock Overvalued with $150 target

Analyst Update Apple's Coverage after AI Update

Analyst Coverage Change

Morningstar (Rank#114) has provided its analyst coverage on Apple’s stock, maintaining a “Hold” rating. This rating indicates that Morningstar recommends investors to hold their current positions in Apple’s stock rather than buying or selling it at the moment. The target price set by Morningstar is USD 150, which implies that they believe the stock is  overvalued at this level.

Reasons why Morningstar believes outlook  Apple is currently overvalued:

  1. Saturation in the smartphone market: With Apple being a prominent player in the smartphone industry, concerns about market saturation and slowing growth could impact their long-term prospects.
  2. Competitive pressures: Apple faces competition from other technology giants and emerging players, which could potentially impact its market share and profitability.
  3. Regulatory challenges: Regulatory actions and antitrust scrutiny could impose restrictions on Apple’s business practices, impacting its future growth potential. Especially as apple encroaches on the financial and EV space.
  4. Dependence on iPhone sales: Apple’s reliance on iPhone sales for a significant portion of its revenue could make the company vulnerable to fluctuations in consumer demand and market trends.
  5. Global economic factors: Macroeconomic factors, such as economic downturns, geopolitical tensions, or changes in consumer spending behavior, could affect Apple’s sales and overall performance.

 

AAPL Ratings by Stock Target Advisor

AAPL Stock Forecast & Analysis

According to the forecasts of 37 analysts, the average target price for Apple Inc. stock over the next 12 months is USD 172.70. This average target price indicates that analysts expect the stock to appreciate from its current price level. The average analyst rating for Apple Inc. is “Strong Buy,” suggesting a high degree of confidence in the stock’s performance.

Stock Target Advisor’s own assessment of Apple Inc. stock and categorized it as “Bullish.” This classification is based on the identification of 13 positive signals and 5 negative signals by the platform. The positive signals indicate favorable trends and indicators related to Apple Inc.’s business and market performance, while the negative signals highlight potential risks or challenges.

As of the last closing, Apple Inc.’s stock price was USD 172.99. Over the past week, the stock price has experienced a decline of -1.18%, indicating a slight downward movement. However, looking at the monthly performance, the stock has gained 5.63%, indicating positive momentum. Over the last year, Apple Inc.’s stock price has seen a significant increase of 23.11%, reflecting a strong performance over a longer timeframe.

These figures highlight the recent volatility in Apple Inc.’s stock price, with a slight decline over the past week but significant gains over the past month and year. It is important for investors to closely monitor the stock’s performance and consider the insights provided by analysts and analysis platforms to make informed investment decisions.

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