Apple's Multi-Year iPhone Upgrade Cycle and AI Features To Drive Upside, Analysts Say
Portfolio Pulse from Anusuya Lahiri
Analysts from Goldman Sachs, KeyBanc, Piper Sandler, and BofA Securities have provided their insights on Apple Inc. (NASDAQ:AAPL). Goldman Sachs raised its price target to $275, citing a multi-year iPhone upgrade cycle and strong services momentum. KeyBanc reiterated a Sector Weight rating, noting skepticism about a significant acceleration in the upgrade cycle. Piper Sandler maintained a Neutral rating with a $225 price target, highlighting strong iPad and services growth but cautious consumer sentiment. BofA Securities maintained a Buy rating with a $256 price target, expecting strong iPhone upgrade cycles in fiscal years 2025 and 2026.
August 02, 2024 | 5:29 pm
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Goldman Sachs raised its price target for Apple to $275, citing a multi-year iPhone upgrade cycle and strong services momentum. KeyBanc remains cautious about the upgrade cycle, while Piper Sandler and BofA Securities have mixed views but see potential for future growth.
Goldman Sachs' increased price target and positive outlook on the iPhone upgrade cycle and services momentum are likely to drive short-term positive sentiment. However, mixed views from other analysts may temper the overall impact.
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IMPORTANCE 90
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