DBS analyst Jim Hin Kwong Au has maintained their neutral stance on AAPL stock, giving a Hold rating on April 22.
Jim Hin Kwong Au has given his Hold rating due to a combination of factors, including Apple’s recent performance and future prospects. The company has shown strong global iPhone sales, particularly with the iPhone 16e, and is expected to continue benefiting from the introduction of AI features in its premium models. However, despite these positive developments, there are challenges that Apple faces, particularly in the Chinese market where competition from local brands has led to a decline in sales.
Additionally, while Apple’s advancements in semiconductor design and the expansion of its M series chips have strengthened its competitive position, the anticipated delays in the launch of Apple Intelligence in multiple languages could negatively impact consumer sentiment and sales. Furthermore, the current stock price appears to have already factored in short-term growth drivers, leading to a recommendation to hold the stock at a target price of $210 per share, reflecting a balanced view of potential risks and rewards.
In another report released on April 22, UBS also maintained a Hold rating on the stock with a $210.00 price target.
AAPL’s price has also changed moderately for the past six months – from $230.760 to $204.600, which is a -11.34% drop .