Wedbush Reiterates Coverage on Apple Inc
Wedbush(Rank#34) on Monday, April 17th reaffirmed its coverage on Apple Inc’s stock, maintaining an “Outperform” rating and setting a 12-month target price of $205. This positive outlook comes as Wedbush continues to be bullish on Apple’s prospects, citing various factors that are expected to drive the company’s growth in the coming months.
Wedbush’s “Outperform” rating indicates its belief that Apple’s stock is expected to outperform the broader market and other stocks in the technology sector. This bullish rating reflects Wedbush’s confidence in Apple’s strong position in the market and its potential for continued growth.
Wedbush’s target price of $205 implies a significant upside potential from Apple’s current stock price, which was last reported at $165.21. This target price suggests that Wedbush expects Apple’s stock to increase in value over the next 12 months, making it an attractive investment opportunity for investors.
Wedbush’s positive outlook on Apple’s stock is based on several factors. Firstly, Wedbush anticipates robust demand for Apple’s flagship product, the iPhone, particularly as the company continues to expand its customer base globally and as 5G adoption gains momentum. The iPhone has long been a key revenue driver for Apple, and Wedbush expects this trend to continue in the near future.
In addition to the iPhone, Wedbush also highlights Apple’s services segment as a significant growth driver. Apple’s services, which include the App Store, Apple Music, and iCloud, have been steadily growing and are expected to continue to contribute to the company’s revenue growth. Wedbush notes that Apple’s services segment benefits from a large and loyal customer base, as well as the potential for new services to be introduced in the future.
Wedbush also cites Apple’s strong ecosystem and customer loyalty as key factors in its positive outlook. Apple has a wide range of products and services that are deeply integrated, such as Apple Pay, Apple Watch, and Apple TV, creating a loyal customer base that tends to stick with the brand. This ecosystem and customer loyalty are expected to continue to drive sales and revenue growth for Apple.
It’s worth noting that Wedbush’s positive outlook also acknowledges potential risks, such as increased competition in the smartphone market, regulatory challenges, and supply chain disruptions. Wedbush however believes that Apple’s strong brand, customer base, and innovation capabilities position it well to overcome these challenges and continue its growth trajectory.
AAPL Stock Forecast & Analysis
The average target price for Apple Inc, as predicted by 41 analysts, stands at USD 169.49 for the next 12 months. This forecast indicates a positive outlook for Apple’s stock, with analysts anticipating an increase in value over the coming year. The “Strong Buy” rating, which is the average analyst rating for Apple Inc, further supports this optimistic sentiment, suggesting that analysts are bullish on the company’s prospects.
Stock Target Advisor has a “Bullish” assessment of Apple Inc’s stock. This bullish outlook is based on 13 positive signals and 5 negative signals, indicating that the overall sentiment towards Apple’s stock is positive according to their analysis.
At the last closing, Apple Inc’s stock price was reported at USD 165.21. Over the past week, the stock has shown a slight increase of +0.33%, while over the past month, it has experienced a more significant gain of +6.01%. However, over the last year, Apple’s stock price has experienced a small decline of -0.05%. These historical price movements highlight the dynamic nature of the stock market and the need for investors to carefully consider various factors when making investment decisions.