At least one Wall Street analyst is pounding the table on Apple (AAPL) stock.
Amit Daryanani, a top five-star rated analyst at investment bank Evercore ISI (EVR), is encouraging investors to buy shares of the consumer electronics giant during the current market downturn, saying that Apple remains a “tech staple” and well-positioned to reap the benefits of the artificial intelligence (AI) boom in coming years.
Daryanani boosted his price target on AAPL stock to $275 from $260, and reiterated a Buy-equivalent outperform rating on the shares. Evercore’s new price target is 30% higher than where Apple’s shares currently trade and one of the highest forecasts on Wall Street.
Continued Growth
AAPL stock has taken a hit recently as the U.S. market has slumped. Investors and analysts are also concerned about the company’s AI strategy and the slow deployment of new AI technologies. However, Evercore is brushing aside those worries, saying that Apple is poised for continued growth.
Daryanani states in his assessment of AAPL stock that the company can be expected to achieve sustainable revenue growth in the mid-single-digit percentages over the next few years. Earnings per share and free cash flow should see low-to-mid-teen percentage growth over the same period.
Plus, Evercore forecasts that Apple will benefit from AI monetization in the near future without having to invest heavily in graphics processing units. “Apple has a strong track record of bringing chip design in-house which has benefited both product functionality and gross margins,” writes Daryanani, concluding that AAPL stock is “an underappreciated, lower-risk way to play the AI theme.”
AAPL stock is down 15% so far in 2025.
Is AAPL Stock a Buy?
The stock of Apple has a consensus Moderate Buy rating among 32 Wall Street analysts. That rating is based on 17 Buy, 11 Hold, and four Sell recommendations assigned in the last three months. The average AAPL price target of $249.88 implies 17.18% upside from current levels.
Read more analyst ratings on AAPL stock
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