Apple Stock Hits 4-Week Low After iPhone 16 Launch; Analyst Previously Noted 30-60 Day Recovery Trend
Portfolio Pulse from Piero Cingari
Apple's stock fell to a four-week low following the iPhone 16 launch, despite new product unveilings. Historically, Apple's stock tends to recover 30-60 days post-launch. Bank of America maintains a Buy rating with a $256 price target, suggesting an 18% upside.
September 09, 2024 | 7:26 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Apple's stock dropped 1.4% to a four-week low after the iPhone 16 launch. Historically, Apple's stock recovers 30-60 days post-launch. Bank of America maintains a Buy rating with a $256 price target, suggesting an 18% upside.
Apple's stock often dips after product launches but tends to recover within 30-60 days. The current dip aligns with this pattern. Bank of America's Buy rating and $256 price target suggest confidence in Apple's long-term growth, especially with the new AI features in the iPhone 16.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100