Apple, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Krish Sankar from TD Cowen maintained a Buy rating on the stock and has a $275.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Krish Sankar’s rating is based on a combination of factors that highlight Apple’s strategic advancements and product innovations. The iPhone 17 launch event showcased several new features, including a thinner Air model and a new N1 WiFi/BT chip across all models, which are expected to enhance user experience and drive consumer interest. The introduction of triple 48MP cameras and vapor chamber cooling in the Pro models indicates Apple’s focus on improving performance and catering to content creators and social media enthusiasts.
Furthermore, the pricing strategy for the iPhone 17 models suggests a 3-4% increase in average selling prices, which could positively impact Apple’s revenue. The new health features in the Watch Series 11 and live AI translation capabilities in the AirPods Pro 3 are expected to attract consumers, especially during the holiday season. These developments, coupled with the potential for future innovations like foldable products, underpin Sankar’s optimistic outlook and Buy rating for Apple’s stock.
In another report released yesterday, Evercore ISI also reiterated a Buy rating on the stock with a $250.00 price target.