Apple Stock Has 27% Upside, According to 1 Wall Street Analyst
(NASDAQ: AAPL) stock has underperformed the broader market this year, down 10% year to date. Citi analyst Atif Malik rates the stock a buy, but he trimmed his near-term price target over concerns about sluggish iPhone demand in China.
Malik's new price target is $220 a share, which still represents an upside over the next 12 months or so of 27% over the current share price of roughly $173.
While Wall Street generally operates on a shorter time frame than the average investor, analysts' opinions can be valuable in understanding what is driving the stock's performance in the short term. In this case, the analyst cited weakening smartphone sales in China for the price target cut.
Source Fool.com
Apple Inc. Stock
€178.98
0.520%
Our community is currently high on Apple Inc. with 80 Buy predictions and 5 Sell predictions.
As a result the target price of 200 € shows a slightly positive potential of 11.74% compared to the current price of 178.98 € for Apple Inc..
