Wells Fargo analyst Aaron Rakers maintained a Buy rating on Apple (AAPL – Research Report) on April 30 and set a price target of $245.00.
Aaron Rakers has given his Buy rating due to a combination of factors that suggest long-term potential for Apple, despite recent challenges. The ruling against Apple regarding its App Store practices has indeed put pressure on its shares, but Rakers sees this as a manageable issue that does not overshadow the company’s overall strong market position and innovation capabilities.
Rakers acknowledges the potential impact on Apple’s services revenue due to the court’s decision, yet he believes that Apple’s robust ecosystem and loyal customer base will continue to drive growth. Furthermore, the company’s ability to adapt and respond to regulatory challenges is seen as a testament to its resilience, making it a favorable investment opportunity in the long run.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $275.00 price target.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year.