In a report released yesterday, Atif Malik from Citi maintained a Buy rating on Apple (AAPL – Research Report), with a price target of $240.00.
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Atif Malik has given his Buy rating due to a combination of factors that highlight Apple’s strategic positioning and future growth potential. One key reason is Apple’s upcoming Worldwide Developers Conference (WWDC) in 2025, which is expected to introduce significant software updates and new features across its product lineup. Despite the delay in AI-powered personalized Siri features, Malik believes Apple’s integrated ecosystem of hardware, software, and services, along with its vast user base, positions the company well in the evolving landscape of personal AI devices.
Furthermore, Malik points to Apple’s planned transition to a year-based naming format for its operating systems and the anticipated major revamp of user interfaces, which will enhance consistency and integration across devices. The introduction of new features such as live-translation mode for AirPods, AI-enabled battery management, and the potential opening of Apple’s AI models to third-party developers are seen as steps that could accelerate Apple’s progress in AI and expand its influence in the tech industry. These strategic moves underpin Malik’s optimistic outlook and Buy rating for Apple’s stock.
According to TipRanks, Malik is a top 25 analyst with an average return of 27.7% and a 67.67% success rate. Malik covers the Technology sector, focusing on stocks such as Apple, Nvidia, and Arista Networks.
In another report released on May 27, Morgan Stanley also reiterated a Buy rating on the stock with a $235.00 price target.
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