Apple Analyst Raises Price Target To $200 Despite US Sales 'Not Tracking Great:' Here's Why
Portfolio Pulse from Shanthi Rexaline
KeyBanc Capital Markets analyst, Brandon Nispel, has maintained an Overweight rating for Apple Inc. (AAPL) and increased the price target from $180 to $200, despite predicting a 19% quarter-over-quarter decline in U.S. hardware revenue for the June quarter. The analyst cites lukewarm consumer spending data and softness in Apple's indirect channel as reasons for the muted expectation. However, the bull case for the stock is due to excitement around new products and investors reaching for safety.
July 11, 2023 | 8:00 am
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Apple's price target has been raised by KeyBanc despite a predicted decline in U.S. hardware revenue. This could potentially lead to increased investor interest.
The price target increase by KeyBanc indicates a positive outlook for Apple's stock, despite the predicted decline in U.S. hardware revenue. This could potentially attract more investors, leading to a short-term increase in the stock price.
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