Apple Stock Has 33% Upside, According to 1 Wall Street Analyst
Investors are worried over declining iPhone sales at (NASDAQ: AAPL) -- reported to be down 9% in the U.S. in February, and twice that in China. They are also worried that Apple's lack of a homegrown artificial intelligence product could seriously damage Apple's share price this year. Together those worries go some way to explaining why share prices of the iPhone maker are down about 13% since the start of 2024.
But not all hope is lost. Bank of America analysts still think Apple stock is a buy and could rise as much as 34% to hit $225 within a year.
Why does BofA believe Apple stock is a buy? In a note out Tuesday, the investment bank cited a 10% rise in Q2 sales at the App Store as a reason to own Apple stock. March data look particularly good, with global App Store sales up 13% (although only up 7% in China).
Source Fool.com
Apple Inc. Stock
Our community is currently high on Apple Inc. with 83 Buy predictions and 6 Sell predictions.
As a result the target price of 199 € shows a slightly positive potential of 16.99% compared to the current price of 170.1 € for Apple Inc..
