In early trading on Monday, shares of Apple topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.1%. Year to date, Apple registers a 33.2% gain.
The tech-heavy Nasdaq and the S&P 500 rose on Monday as most growth stocks gained, while investors awaited comments from Federal Reserve Chair Jerome Powell and more data this week to gauge the central bank's interest-rate path.
Microsoft chief executive Satya Nadella on Monday took the witness stand in the U.S. Justice Department's once-in-a-generation antitrust fight with Alphabet's Google.
Warner Bros. Discovery WBD announced the return of HBO’s well-known podcast, REAL TIME WITH BILL MAHER. Allowing Maher to offer his unique perspective on contemporary issues, the show, which returned on Sep 29, continues with its
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts ofte
In the past 10 years, the Nasdaq Composite has produced a total return of 283%. That's respectable growth, to be fair. However, Apple (NASDAQ: AAPL) has crushed the broader index, soaring 895% over the same period.
Technology stocks were mixed premarket Monday as the Technology Select Sector SPDR Fund (XLK) was down 0.1% and the SPDR S&P Semiconductor ETF (XSD) was up 0.1% recently.
The U.S. Justice Department's once-in-a-generation antitrust fight with Alphabet's Google gets some star power on Monday when Microsoft chief executive Satya Nadella takes the witness stand.
Qualcomm Incorporated QCOM shares have witnessed a rollercoaster ride in September, with the ebb and flow attributable to various macroeconomic developments and corporate achievements. While such ups and downs are part of a stock’
Wall Street index futures were subdued on Monday ahead of comments from Federal Reserve officials including Chair Jerome Powell, while investors looked forward to more economic data this week to gauge the central bank's interest-rate outlook.
Warren Buffett is considered one of the greatest investors of all time. If you invested $10,000 in the A shares of Buffett's Berkshire Hathaway 30 years ago, you'd have nearly $330,000 today. That's an incredible return, and it makes many investors curious about how Buffett and h
The Invesco FTSE RAFI US 1000 ETF (PRF) made its debut on 12/19/2005, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Large Cap Value category of the market.
Apple
(
NASDAQ:AAPL
) recently unveiled
four new models of the iPhone 15. Soon after the launch,
AAPL stock closed lower as the company did not increase the prices of the iPhone 15 Pro and Pro Max (its pricier versions) as many expected. Further,
overheating issues in the new models spell unfavorable news for the company. Despite these issues, analysts see strong demand for the iPhone 15 as driving its
financials and share price.
For example, on September 19,
Goldman Sachs analyst Mike Ng wrote to investors that the new iPhone 15 models are witnessing a notable increase in lead times. The analyst is encouraged by the increased lead times and sees this as an indicator of strong demand for all iPhone 15 models, particularly in China. Mike is bullish about AAPL stock and recommends a price target of $216.
Echoing similar sentiments,
Morgan Stanley analyst Erik Woodring reiterated a Buy on Apple stock on September 25. Woodring is encouraged by early demand trends for the iPhone 15.
While analysts are bullish about the iPhone 15’s prospects, the company plans to release an iOS 17 software update to tackle the overheating issues related to the iPhone 15. Apple informed several media companies that the overheating problems can be attributed to various factors, including a software bug within iOS 17. Further, it clarified that the heat-related issues are not caused by the new titanium design.
With this backdrop, let’s look at what the Street recommends for Apple stock.
Is Apple a Buy, Sell, or Hold?
Analysts are encouraged by early demand trends for the iPhone 15. Meanwhile, its large installed base of devices and strength in its service revenue are positives. However, increased competition, macro uncertainty, and Apple’s premium valuation keep analysts cautiously optimistic in the near term.
Apple stock carries a Moderate Buy consensus rating on TipRanks based on 21 Buy and eight Hold recommendations. Analysts’ average price target of $207.69 implies 21.31% upside potential from current levels.
Bottom Line
Apple is a solid long-term stock. Given its large installed base, growing services business, and substantial cash flows, Apple is poised to enhance its shareholders' returns. However, near-term headwinds and recent appreciation in its share price could limit the upside in Apple stock, as reflected by analysts' Moderate Buy consensus rating.
Disclosure
Dutch competition watchdog ACM on Monday said it had rejected objections by Apple against fines of 50 million euros ($52.9 million) it had given the company over failure to comply with regulations aimed at limiting the dominant position of Apple's App Store.
Qualcomm stock (NASDAQ:QCOM) currently trades at $108 per share, roughly 43% below its pre-inflation shock high of $189, seen in December 2021, and has the potential for meaningful gains. QCOM saw its stock trading at around $128 in late June 2022, just before the Fed started inc
With a market cap well above $2.5 trillion, some investors might wonder whether any fuel is left in Apple's (NASDAQ: AAPL) growth tank. The company has delivered market-beating returns in the past 15 years, but the unveiling of new iPhone models has lost much of its appeal, and t
Surging bond yields are rattling U.S. stocks, and some investors worry the richly valued shares of giant technology and growth companies may be another weak spot.
The Nasdaq Composite has come roaring back in 2023 and is crushing the performance of the S&P 500 and Dow Jones Industrial Average. But a lot of Nasdaq stocks have been selling off this year or are still down big off their highs.