Apple Stock Has 27% Upside, According to 1 Wall Street Analyst [Yahoo! Finance]
Apple Inc. (AAPL)
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Source: Yahoo! Finance
Cutting Apple stock's price target from $220 to $210, Morgan Stanley analyst Erik Woodring predicted that when the company reports second-quarter earnings next week, it will beat expectations for both sales and earnings. That's the good news. The bad news is that Apple will probably guide 4% below Wall Street predictions. And that could cause a sell-off. Is Apple stock a buy? Why does Woodring think this? China is one reason. Apple gets 19% of its revenue from China, but iPhone sales are skidding over there, and that's going to hurt both Apple's revenue and profits. Artificial intelligence (AI) is another reason. Apple hasn't announced a great generative AI product of its own, and had to ask Google for help with that. These factors could force Apple to downplay third-quarter expectations in its report. It's worth noting: Woodring doesn't think this is a reason to sell Apple stock. On the contrary, he rates Apple overweight and thinks you should buy it eventually. If Q2 earnin
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