Market News

AAPL Falls after Analyst Slashes Earnings Estimates

Shares of Apple (NASDAQ:AAPL) are down today, which can be attributed to analyst Aaron Rakers cutting his estimates for 2023. He now expects Apple’s earnings per share to be $5.81 versus his previous forecast of $6.56. Rakers is worried about demand slowing down along with uncertainties surrounding China’s recovery.

In addition, analyst Ming-Chi Kuo is also cautious, as he expects iPad shipments to decline 10%-15% year-over-year in 2023. However, he was optimistic about 2024, noting that Apple was likely to release a foldable iPad that could help boost shipments.

Overall, Wall Street analysts have a consensus price target of $172.41 on AAPL stock, implying over 19% upside potential, as indicated by the graphic above.


Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More