Monness analyst Brian White maintained a Buy rating on Apple (AAPL – Research Report) today and set a price target of $260.00.
Brian White has given his Buy rating due to a combination of factors including Apple’s strong financial performance and strategic initiatives. The company is expected to report a slight acceleration in revenue growth for the second quarter of fiscal year 2025, with projections indicating a 5% year-over-year increase. This growth is driven by positive trends in iPhone sales, which are anticipated to rise by 2% year-over-year, reversing the previous quarter’s decline.
Additionally, Apple’s innovation in industry-leading products and its venture into generative AI with Apple Intelligence are seen as positive developments. Despite challenges such as regulatory headwinds and geopolitical risks, the company’s robust digital ecosystem and capital return program provide a solid foundation for future growth. The anticipated return of iPhone sales to positive growth and the expected increase in services revenue further support the Buy rating.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $240.00 price target.
Based on the recent corporate insider activity of 39 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.