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UBS Reaffirms Their Buy Rating on Apple (AAPL)

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In a report released yesterday, David Vogt from UBS maintained a Buy rating on Apple (AAPLResearch Report), with a price target of $185.00. The company’s shares closed last Friday at $131.56, close to its 52-week low of $129.04.

According to TipRanks.com, Vogt is a 4-star analyst with an average return of 15.7% and a 45.8% success rate. Vogt covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Cisco Systems, and Pure Storage.

Currently, the analyst consensus on Apple is a Strong Buy with an average price target of $186.33, implying a 43.3% upside from current levels. In a report issued on June 9, KeyBanc also maintained a Buy rating on the stock with a $191.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

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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