What's Going On With Apple Inc. Stock?
Portfolio Pulse from Erica Kollmann
Apple Inc. (AAPL) shares are recovering from recent losses, despite being down 8% over the last thirty days. The 9th District U.S. Circuit Court of Appeals rejected an appeal in a case accusing Apple of sabotaging the performance of older iPhone models, clearing the way for a settlement estimated between $310 million and $500 million. Wedbush analyst Daniel Ives reiterated an Outperform rating and maintained a $230 price target on AAPL.
August 18, 2023 | 7:25 pm
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POSITIVE IMPACT
Apple's stock is recovering from recent losses. A court decision has cleared the way for a settlement in a case accusing Apple of sabotaging older iPhone models. Wedbush maintains a $230 price target.
The court's decision to reject the appeal in the case against Apple removes a potential legal hurdle for the company, which could be seen as a positive by investors. Additionally, the reiteration of the Outperform rating and $230 price target by Wedbush analyst Daniel Ives could also boost investor confidence in the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100