It’s almost disappointing to see what happened to consumer product giant Apple (NASDAQ:AAPL) in trading today. The company is up, ever so slightly, despite a flood of good news that should give Apple a real edge in the field.
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The news may not have budged Apple’s share price much, but Wall Street is still solidly in its corner. Analyst consensus calls Apple stock a Strong Buy with 27.66% upside potential thanks to an average price target of $173.37 per share.
As for the news, the first major piece came from Evercore ISI analyst Amit Daryanani. Daryanani noted that now was a great time to buy Apple stock ahead of its upcoming earnings report. In fact, he specifically added Apple’s name to a list of stocks likely to do well in the short term called the “Tactical Outperform List.” While there may be some short-term risk, thanks in large part to underwhelming iPhone sales in the last quarter, Apple still represents a winner.
Meanwhile, Apple supplemented this win with another: the launch of its revitalized Mac Mini and MacBook Pro systems. The MacBook Pro now comes with either M2 Pro or M2 Max chips, which are the strongest chips that Apple has installed in a MacBook Pro yet. The Mac Mini, meanwhile, now offers support for either M2 or M2 Pro. With the M1-powered iPad Air also seeing some price cuts, this bodes well for Apple’s support, at least in the short term. Apple may be suffering from a bit of a creative block, but these upgrades are a good sign for Apple. Not to mention its user base.
