Apple (AAPL) just rolled out fresh updates to its Mac and iPad lines, with some price cuts to sweeten the deal. Following yesterday’s announcement, Goldman Sachs (GS) analyst Michael Ng reaffirmed his positive stance on the stock. He maintained a Buy rating on Apple with a price target of $294.00 per share.
Apple Delivers a Fresh Lineup at Lower Prices
Apple has launched new MacBook Air models with a faster M4 processor and upgraded camera, starting at $999, which is $100 cheaper than last year. Other releases include the Mac Studio with M4 Max and M3 Ultra, an iPad Air with M3 chips starting at $599, and the 11th-generation iPad at $349, also $100 less than its predecessor.
Goldman Sachs’ Confidence Remains High
After the big reveal, the firm reaffirmed its Buy rating, betting on Apple’s new lineup to keep the momentum going. Goldman Sachs believes Apple’s new product lineup will help the company hit its second-quarter fiscal year 2025 revenue growth target. The firm forecasts low-to-mid single-digit growth, estimating $95.9 billion in revenue, a 6% rise from the prior year.
Despite the lower-than-expected starting price for the MacBook Air, Goldman Sachs stays upbeat. The analyst highlighted that the MacBook Air, Apple’s top-selling laptop, is set to gain from a broader PC refresh cycle, which could boost Mac’s market share. The $100 price cut, combined with AI features from the M4 processor, is seen as a key sales driver.
The firm also notes that the channel fill from these new releases should support Apple’s revenue goals, showing confidence in the company’s pricing strategy and product rollout.
Is AAPL Stock a Buy?
The stock of Apple has a consensus Moderate Buy rating among 33 Wall Street analysts. That rating is based on 18 Buy, 11 Hold, and four Sell recommendations assigned in the last three months. The average AAPL price target of $250.95 implies 6.45% upside from current levels.
