Analyst Krish Sankar of TD Cowen maintained a Buy rating on Apple (AAPL – Research Report), retaining the price target of $290.00.
Krish Sankar has given his Buy rating due to a combination of factors including Apple’s anticipated revenue growth and strategic positioning. Sankar projects a 4% year-over-year increase in revenue for the March quarter and expects similar growth guidance for the June quarter, driven by slightly improved demand in the U.S. despite ongoing tariff concerns. Additionally, Apple’s services segment is expected to grow by 11% year-over-year, which contributes positively to the company’s financial outlook.
Despite macroeconomic uncertainties and potential headwinds from tariff-related issues, Sankar believes that Apple’s strong cash position and the potential for a dividend increase further support the Buy rating. The analyst also notes that while iPhone unit sales might face challenges, particularly in China, there is potential upside in the U.S. market due to inventory build-up ahead of full smartphone tariffs. Furthermore, Apple’s strategic moves to increase production capacity in India could mitigate some supply chain risks and support future growth.
In another report released on April 24, Monness also maintained a Buy rating on the stock with a $260.00 price target.