Apple Stock: Headed to $177?
Apple (NASDAQ: AAPL) stock has had a great start to 2023. Shares have risen about 17%, easily surpassing the S&P 500's 7% gain over this same period. But one analyst thinks the stock still has plenty of room to run. KeyBanc analyst Brandon Nispel reiterated an overweight rating (similar to a buy rating) and a $177, 12-month price target for the stock on Tuesday. The target translates to about 16% upside from where shares are trading at the time of this writing.
Is Apple stock really still this attractive, even after its recent run-up? Let's take a look at why Nispel is bullish on the stock and attempt to determine whether or not shares are a buy today.
Some of the keys behind Nispel's optimism for Apple stock are expectations for user growth across the tech company's installed base of products, and recent optimistic commentary from Apple management about the company's important China and India markets.
Source Fool.com
