Apple Stock Coverage Change
STA Research(Rank#119), a leading market research firm, has raised its 12-month target forecast on Apple’s stock to $175 from $165. The new forecast is based on the firm’s analysis of Apple’s financial performance, market trends, and other factors that may impact the company’s future growth prospects.
The decision to raise the target price is based on several positive signals that Apple has demonstrated in recent months. These include strong sales of the iPhone 13, increased demand for Apple’s services such as Apple Music and Apple Pay, and the success of the company’s M1 chip in Macs and iPads. Additionally, the company’s strong balance sheet and cash reserves provide a solid foundation for continued investment in research and development, mergers and acquisitions, and other strategic initiatives.
STA Research’s rating for Apple remains a “Buy”, indicating the firm’s confidence in the company’s ability to continue delivering strong financial results and growth prospects. The new target price represents a potential upside of over 7% from Apple’s current share price of around $165.
The market outlook for Apple has been generally positive in recent months, as investors continue to be optimistic about the company’s future growth potential. There are also some concerns about the company’s reliance on the iPhone for a significant portion of its revenue, as well as increasing competition in some of its key markets such as wearables and services.
Despite these challenges, STA Research remains confident in Apple’s ability to continue to innovate and expand its product and service offerings, and to maintain its position as a leading player in the tech industry. With a solid track record of delivering strong financial performance and a commitment to continued investment in R&D and other strategic initiatives, Apple remains a compelling investment opportunity for long-term investors.
AAPL Stock Forecast & Analysis
According to data from Stock Target Advisor, the average analyst target price for Apple Inc. over the next 12 months is USD 168.50 based on forecasts from 39 analysts. Apple Inc.’s average analyst rating is Strong Buy, indicating a high level of confidence in the company’s future performance.
In addition, Stock Target Advisor’s own stock analysis of Apple Inc. is Bullish, which is based on 13 positive signals and 5 negative signals. This suggests that the company has favorable market conditions and is expected to perform well in the near future.
At the last closing, Apple Inc.’s stock price was USD 164.90, which represents an increase of +2.90% over the past week and +13.01% over the past month. However, over the last year, the stock price has decreased by -5.40%.
Overall, based on the analysis of both analysts and Stock Target Advisor, it appears that Apple Inc. has a promising future and is likely to continue performing well on the stock market.