J.P. Morgan analyst Samik Chatterjee has maintained their bullish stance on AAPL stock, giving a Buy rating on August 26.
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Samik Chatterjee has given his Buy rating due to a combination of factors that highlight potential upsides for Apple’s stock. One of the primary reasons is the introduction of the iPhone Air, which is expected to attract a broader consumer base with its slimmer form factor and appealing features, despite being more aligned with base models than Pro models. The anticipated pricing strategy, particularly in the Chinese market, could also drive demand, as Apple’s pricing under CNY 6,000 qualifies for significant discounts, potentially boosting sales.
Moreover, the mitigation of tariff concerns, which were previously expected to lead to price increases, now suggests minimal pricing changes. This stability in pricing, coupled with the potential for the iPhone Air to qualify for regional subsidies in China, could result in increased demand and sales. Additionally, while other product updates, such as the Watch Series 11 and AirPods Pro 3, are expected to be evolutionary, the overall product lineup and strategic pricing could contribute to a positive outlook for Apple’s financial performance.
Chatterjee covers the Technology sector, focusing on stocks such as Apple, Ciena, and Corning. According to TipRanks, Chatterjee has an average return of 13.7% and a 64.78% success rate on recommended stocks.
In another report released on August 26, Goldman Sachs also reiterated a Buy rating on the stock with a $266.00 price target.