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

In a report released today, Brian White from Monness maintained a Buy rating on Apple (AAPLResearch Report), with a price target of $174.00. The company’s shares closed yesterday at $169.24.

According to TipRanks, White is a 5-star analyst with an average return of 13.2% and a 61.69% success rate. White covers the Technology sector, focusing on stocks such as Apple, Alphabet Class A, and Meta Platforms.

Apple has an analyst consensus of Strong Buy, with a price target consensus of $180.82, a 6.84% upside from current levels. In a report released on August 3, Morgan Stanley also maintained a Buy rating on the stock with a $180.00 price target.

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Based on Apple’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $82.96 billion and a net profit of $19.44 billion. In comparison, last year the company earned a revenue of $81.43 billion and had a net profit of $21.74 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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