Analyst Atif Malik of Citi maintained a Buy rating on Apple, retaining the price target of $245.00.
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Atif Malik has given his Buy rating due to a combination of factors that highlight Apple’s potential for growth and innovation. Malik anticipates that Apple’s upcoming product launches, including the iPhone 17 family, Advanced Siri, Foldable Phone, and Vision Pro 2, will drive stronger replacement cycles and boost sales. The introduction of the iPhone 17, particularly the new Air model, is expected to be a significant upgrade with features like a 3nm chip, increased RAM, and camera enhancements, which could attract consumers and enhance Apple’s market position.
Furthermore, Malik’s analysis is supported by Citi’s supply chain checks and consumer electronics surveys, indicating stable shipment expectations and a strong upgrade opportunity among existing iPhone users. Despite some regulatory risks, such as the Google antitrust and Apple vs Epic Game cases, Malik believes Apple’s commitment to advancing its AI roadmap and potential M&A activities will contribute positively to its long-term growth prospects.
Malik covers the Technology sector, focusing on stocks such as Nvidia, Apple, and Applied Materials. According to TipRanks, Malik has an average return of 31.3% and a 72.87% success rate on recommended stocks.