In a report released today, Mike Ng from Goldman Sachs reiterated a Buy rating on Apple, with a price target of $320.00.
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Mike Ng has given his Buy rating due to a combination of factors that highlight Apple’s potential for continued growth. Despite a slowdown in App Store spending growth, which saw a year-over-year increase of 6% in November 2025 compared to 9% in October, Apple’s overall services revenue is expected to remain robust. This is supported by faster growth in other service categories such as iCloud+, AppleCare+, Apple Music, and Apple Pay, which have shown accelerated revenue growth.
Ng believes that the App Store will continue to be a significant contributor to Apple’s services revenue, driven by the seamless experience of in-app payments and the expanding active installed base of Apple devices. This growth potential is further underscored by Apple’s ability to reach record highs in its installed base, which provides a strong foundation for future revenue expansion. Therefore, despite short-term challenges, the long-term outlook for Apple’s services segment remains positive, justifying the Buy rating.
In another report released today, Loop Capital Markets also maintained a Buy rating on the stock with a $325.00 price target.
Based on the recent corporate insider activity of 35 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.