Aaron Rakers, an analyst from Wells Fargo, maintained the Buy rating on Apple. The associated price target remains the same with $245.00.
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Aaron Rakers has given his Buy rating due to a combination of factors including Apple’s impressive quarterly performance and strategic initiatives. The company reported a significant upside in its iPhone sales, marking the strongest quarterly growth in four years, and demonstrated robust growth in its Services segment. This growth is expected to continue, with Apple guiding for similar year-over-year increases in the upcoming quarter.
Additionally, Apple’s aggressive investments in artificial intelligence and its hybrid cloud strategy are seen as positive long-term growth drivers. The company’s openness to larger acquisitions to bolster its AI capabilities further underscores its commitment to innovation. Despite facing tariff-related costs, Apple’s revenue from China showed improvement, supported by government subsidies and a record number of iPhone upgraders. These factors, along with increased revenue and earnings estimates, support the Buy rating with a maintained price target of $245.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $240.00 price target.
AAPL’s price has also changed moderately for the past six months – from $236.000 to $207.570, which is a -12.05% drop .