Apple iPhone 16 Event Not 'Sell The News,' Analyst Says: 'Shares Could Move Higher'
Portfolio Pulse from Chris Katje
Apple's upcoming iPhone 16 event, the Glowtime event, is anticipated to potentially boost Apple's stock, according to Bank of America analyst Wamsi Mohan. Mohan maintains a Buy rating and a $256 price target for Apple, suggesting that the event could mark the start of a new software-driven iPhone upgrade cycle. The stock, which is up 20% year-to-date, could rise if Apple demonstrates compelling features or raises prices.
September 05, 2024 | 5:43 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bank of America analyst Wamsi Mohan suggests that Apple's iPhone 16 event could lead to a stock price increase. Mohan maintains a Buy rating and a $256 price target, indicating potential positive movement if Apple showcases compelling features or raises prices.
The analyst's positive outlook and maintained Buy rating suggest confidence in Apple's potential to impress at the event. Historically, Apple stock has pulled back post-event but typically recovers, indicating a potential short-term price increase if the event meets expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100