Down 12% This Year, Is Apple Stock a No-Brainer Buy?
(NASDAQ: AAPL) shareholders aren't having a magnificent 2024. The tech giant's stock is in negative territory, while most of its peers have rallied in the first quarter. Fellow "Magnificent Seven" stocks Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) are up 23% and 14%, respectively, for context.
Investors aren't nearly as optimistic about Apple's short-term growth prospects as they are for these other tech businesses. That's partly because these companies are more exposed to the enterprise service software niche and less dependent on hardware sales. But Apple brings a lot to the table, including a massive installed base of users and one of the most valuable brands in the industry. These assets should allow it to recover its growth momentum, along with help from its push deeper into the services niche.
But does that mean Apple is a good buy for 2024 and beyond? The short answer is yes, but with some caveats. Let's take a closer look.
Source Fool.com
Apple Inc. Stock
Our community is currently high on Apple Inc. with 77 Buy predictions and 5 Sell predictions.
As a result the target price of 199 € shows a positive potential of 24.69% compared to the current price of 159.6 € for Apple Inc..
