Apple Stock Has 35% Upside, According to 1 Wall Street Analyst [Yahoo! Finance]
Apple Inc. (AAPL)
Last apple inc. earnings: 4/30 04:30 pm
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Source: Yahoo! Finance
Despite these headwinds, Wells Fargo has an overweight (buy) rating on the shares with a $225 price target. That's 35% higher than Apple's current share price of $166.90. Is Apple stock a buy? In the company's fiscal 2024 first quarter (ended Dec. 30, 2023), iPhone sales grew in every region except China. But analysts expect Apple to report a 5% year-over-year decline in revenue for the fiscal second quarter. Apple is expected to launch generative artificial intelligence (AI) features for iOS later this year, which could stimulate iPhone demand, but investors are worried about the cost of these new features. Analysts expect Apple to post earnings per share of $1.50 for fiscal Q2, slightly down from $1.52 in the year-ago period. Another cloud hanging over Apple stock right now is regulation. In March, the Department of Justice filed a lawsuit alleging that Apple is monopolizing the smartphone market with certain contractual restrictions placed on app developers. Meanwhile, the
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AAPL
Earnings
- 5/2/24 - Beat
AAPL
Sec Filings
- 5/3/24 - Form 8-K
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 8-K
- AAPL's page on the SEC website