Shares of tech titan Apple (NASDAQ:AAPL) are trading lower today, which may be attributed to analyst comments. Interestingly, Laura Martin of Needham reiterated her Buy rating while assigning a price target of $220 per share. However, she cut Q2 estimates due to issues in China and slumping iPhone sales.
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Martin now expects sales and earnings per share to come in at $90.8 billion and $1.51, respectively. Compared to her prior forecast, the updated figures are 4% lower for the former and 7% lower for the latter. She believes that Apple’s growth outlook is “anemic” and that its expenses will rise as the firm boosts investments in artificial intelligence.
Is Apple a Buy, Hold, or Sell?
Overall, analysts have a Moderate Buy consensus rating on Apple stock based on 16 Buys, 10 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 12% year-to-date decline, the average AAPL price target of $201.03 per share implies 18.7% upside potential.
Is It Wise to Allocate $1,000 Toward AAPL Stock Right Now?
Before you hurry to invest in AAPL, think about the following:
TipRanks’ team has built the Top Stocks Portfolio for investors, and Apple is not included. Our portfolio highlights companies that have been hand-picked for their potential to deliver significant gains in the years ahead.
