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Apple (AAPL) Received its Third Buy in a Row

After Tigress Financial and J.P. Morgan gave Apple (NASDAQ: AAPL) a Buy rating last month, the company received another Buy, this time from Deutsche Bank. Analyst Sidney Ho maintained a Buy rating on Apple yesterday and set a price target of $175.00. The company’s shares closed last Friday at $163.43.

According to TipRanks.com, Ho is a 5-star analyst with an average return of 22.9% and a 60.2% success rate. Ho covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Smart Global Holdings, and Dell Technologies.

Apple has an analyst consensus of Moderate Buy, with a price target consensus of $180.42, representing an 11.9% upside. In a report issued on July 13, Citigroup also maintained a Buy rating on the stock with a $175.00 price target.

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Based on Apple’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $97.28 billion and net profit of $25.01 billion. In comparison, last year the company earned revenue of $89.58 billion and had a net profit of $23.63 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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