Apple Stock Has 30% Upside Potential, Believes Citigroup Analyst: Says iPhone Maker 'Consistently Gaining Share From Android Phones'
Portfolio Pulse from Bhavik Nair
Citigroup analyst Atif Malik has initiated coverage of Apple Inc (AAPL) with a 'Buy' rating and a $240 price target, indicating a potential 30% upside. Malik believes that the market is underestimating Apple's potential for gross margin expansion, driven by a shift towards higher-end iPhones and market share gains in China and India. Apple's stock has gained over 51% since the start of 2023. Other tech giants such as Microsoft (MSFT), Alphabet (GOOG, GOOGL), and Amazon (AMZN) also have high buy ratings from analysts.
June 30, 2023 | 1:58 am
News sentiment analysis
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NEUTRAL IMPACT
Amazon has buy ratings from close to 94% of analysts, according to Bloomberg.
While the news mentions Amazon's high buy ratings, it does not provide any new or specific information that could impact the stock's price in the short term.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Alphabet has buy ratings from over 85% of analysts, according to Bloomberg.
While the news mentions Alphabet's high buy ratings, it does not provide any new or specific information that could impact the stock's price in the short term.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Alphabet has buy ratings from over 85% of analysts, according to Bloomberg.
While the news mentions Alphabet's high buy ratings, it does not provide any new or specific information that could impact the stock's price in the short term.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Microsoft has buy ratings from over 85% of analysts, according to Bloomberg.
While the news mentions Microsoft's high buy ratings, it does not provide any new or specific information that could impact the stock's price in the short term.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Citigroup analyst Atif Malik has initiated coverage of Apple with a 'Buy' rating and a $240 price target, indicating a potential 30% upside. The analyst believes that the market is underestimating Apple's potential for gross margin expansion.
The positive rating and high price target from Citigroup analyst Atif Malik could potentially drive the stock price up in the short term. The analyst's belief that the market is underestimating Apple's potential for gross margin expansion could also positively impact investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100