Apple (AAPL – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Jim Hin Kwong Au from DBS maintained a Hold rating on the stock and has a $210.00 price target.
Jim Hin Kwong Au’s rating is based on a combination of factors that influence Apple’s market position and future prospects. Apple has demonstrated strong performance with record iPhone sales, particularly driven by the launch of the iPhone 16e and anticipation of tariff risks. The introduction of AI features in the iPhone 16 Pro is expected to enhance the premium model mix, contributing to shipment volume growth and earnings expansion in the upcoming fiscal year.
However, challenges persist, particularly in the Chinese market where competition from local brands has led to a decline in iPhone sales. Additionally, delays in the launch of Apple Intelligence in languages other than US English could impact consumer sentiment and sales. Despite these challenges, Apple’s advancements in semiconductor design and strong user loyalty support its long-term growth potential. The target price of $210 per share reflects these considerations, with the Hold rating suggesting that the stock is fairly valued at present.
According to TipRanks, Hin Kwong Au is a 4-star analyst with an average return of 4.3% and a 52.78% success rate. Hin Kwong Au covers the Technology sector, focusing on stocks such as BYD Electronic (International) Co, Sunny Optical Technology (Group) Co, and AAC Technologies Holdings.
In another report released on April 30, Jefferies also maintained a Hold rating on the stock with a $167.88 price target.