Analyst Atif Malik of Citi maintained a Buy rating on Apple, retaining the price target of $245.00.
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Atif Malik has given his Buy rating due to a combination of factors including Apple’s recent product launches and technological advancements. The introduction of the new iPhone 17 family, which features significant upgrades such as the A19/A19 Pro processors, improved battery life, and the fully in-house N1 chip for enhanced connectivity, aligns with expectations and demonstrates Apple’s continued innovation.
Furthermore, the release of the iPhone Air, which is thinner and lighter than previous models, is seen as a strategic move towards a potential foldable phone in the future, potentially driving a stronger replacement cycle. Additionally, updates to the AirPods Pro, with features like improved noise cancellation and heart rate sensing, exemplify Apple’s strategy of integrating hardware and software, enhancing the overall user experience. These developments collectively support the Buy rating, reflecting confidence in Apple’s ability to maintain its competitive edge and drive future growth.
In another report released on September 10, TD Cowen also maintained a Buy rating on the stock with a $275.00 price target.