Apple Analyst Expects Stock To Hit $210 On 2024 Earnings Projections, iPhone Delay
Portfolio Pulse from Priya Nigam
Apple Inc's shares remained under pressure despite gaining market share in Q2. BofA Securities anticipates lower iPhone sales due to weak demand and potential delay in the launch of iPhone 15A. Analyst Wamsi Mohan maintains a Neutral rating but raises the price objective from $190 to $210 based on 2024 earnings projections. BofA models Apple's Q3 revenues at $80.7 billion, a 3% YoY decline.
July 19, 2023 | 3:16 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Apple's stock is under pressure due to anticipated lower iPhone sales and potential launch delay of iPhone 15A. However, BofA Securities raises the price objective to $210.
The anticipation of lower iPhone sales and a potential delay in the launch of the new iPhone model are putting pressure on Apple's stock. However, BofA Securities has raised the price objective to $210 based on 2024 earnings projections, indicating a potential upside in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100