Analyst Aaron Rakers from Wells Fargo maintained a Buy rating on Apple and keeping the price target at $245.00.
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Aaron Rakers’s rating is based on Apple’s strategic decision to significantly increase its investment in the United States by $100 billion, bringing the total to $600 billion over the next four years. This move is seen as a strategic effort to mitigate the impact of tariffs by aligning with U.S. manufacturing policies, which could potentially exempt Apple from hefty import charges. The investment includes substantial deals with major suppliers such as Corning and Coherent, and emphasizes the expansion of Apple’s data center footprint across several states.
Furthermore, the shift in smartphone import dynamics, with a notable decline in imports from China and a rise from India, suggests Apple’s adaptability to changing global trade environments. This adaptability, coupled with the company’s robust investment strategy, underpins Rakers’s confidence in Apple’s growth potential and justifies the Buy rating.
In another report released today, Wedbush also reiterated a Buy rating on the stock with a $270.00 price target.
Based on the recent corporate insider activity of 36 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.