What's Going On With Apple Stock Following iPhone 16 Release?
Portfolio Pulse from Erica Kollmann
Apple's stock is trading slightly lower following the release of the iPhone 16 series and new wearable devices. Despite the initial dip, analyst Dan Ives projects strong future growth driven by AI features, with a raised price target of $300. However, Apple faces a setback with the EU court's decision on back taxes. Analysts have a mixed outlook, with a 12-month average price target of $250.39.
September 10, 2024 | 4:40 pm
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Apple's stock is slightly down after the iPhone 16 launch, but analysts see potential upside due to AI features. The EU court ruling on back taxes poses a regulatory challenge.
Apple's stock is reacting to the iPhone 16 launch and the EU court ruling. The launch has mixed immediate impact, with shares slightly down, but analysts like Dan Ives are optimistic about future growth due to AI features. The EU ruling on back taxes is a negative regulatory factor, but the overall analyst sentiment remains positive with a raised price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100