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Apple (AAPL): New Buy Recommendation for This Technology Giant

In a report released yesterday, David Vogt from UBS maintained a Buy rating on Apple (AAPLResearch Report), with a price target of $175.00. The company’s shares closed last Wednesday at $149.28, close to its 52-week high of $157.26.

Vogt has an average return of 8.7% when recommending Apple.

According to TipRanks.com, Vogt is ranked #2274 out of 7706 analysts.

Currently, the analyst consensus on Apple is a Strong Buy with an average price target of $170.23, which is a 14.0% upside from current levels. In a report issued on October 11, J.P. Morgan also reiterated a Buy rating on the stock with a $175.00 price target.

See today’s best-performing stocks on TipRanks >>

Based on Apple’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $81.43 billion and net profit of $21.74 billion. In comparison, last year the company earned revenue of $59.69 billion and had a net profit of $11.25 billion.

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Apple, Inc. designs, manufactures, and sells smartphones, personal computers, tablets, wearables and accessories. It also offers a range of related services. Its products include iPhone, Mac, iPad, Apple TV, Apple Watch, Beats products, HomePod and AirPods. The services segment is comprised of AppleCare, cloud services, digital content offerings like the App Store and other content services like Apple Arcade, Apple Music, Apple News+, Apple Fitness+ and Apple TV+, payment services such as Apple Card and Apple Pay as well as advertising and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.

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