DBS analyst Jim Hin Kwong Au maintained a Hold rating on Apple (AAPL – Research Report) today and set a price target of $210.00.
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Jim Hin Kwong Au has given his Hold rating due to a combination of factors including Apple’s strong performance in certain segments and challenges in others. The company has shown impressive growth in its iPhone, iPad, and Mac segments, with services reaching an all-time high. However, the decline in Wearables, Home & Accessories, and the significant drop in iPhone sales in China due to local competition pose challenges.
Despite these challenges, Apple’s advancements in semiconductor design and the anticipated launch of innovative products like the ultra-thin iPhone 17 Air and foldable iPhone are expected to drive future growth. The target price of USD 210 per share reflects a forward PE ratio that is slightly above its peers, acknowledging Apple’s strong user loyalty and long-term growth potential. However, the potential delays in launching Apple’s in-house LLM could impact growth, leading to a cautious Hold rating.
In another report released on May 6, UBS also maintained a Hold rating on the stock with a $210.00 price target.