TD Cowen analyst Krish Sankar maintained a Buy rating on Apple (AAPL – Research Report) today and set a price target of $275.00.
Krish Sankar has given his Buy rating due to a combination of factors that highlight Apple’s strategic positioning and potential for growth. One of the key reasons is Apple’s ability to mitigate tariff-related costs by shifting a significant portion of iPhone production to India, which helps reduce the impact of potential tariff increases. Additionally, the demand for iPhones is aligning with previous forecasts, and the company’s supply chain flexibility is expected to cushion any further tariff impacts.
Another factor supporting the Buy rating is the stabilization of demand in China, which is a significant market for Apple. Despite a slight decline in revenue from China, the situation has improved compared to previous quarters, and the introduction of new AI features could further boost device replacements. Furthermore, Apple’s production capabilities in Vietnam for other product lines like Macs and iPads ensure that the company can meet US demand effectively, even amidst potential tariff challenges.
According to TipRanks, Sankar is a 5-star analyst with an average return of 10.2% and a 47.32% success rate. Sankar covers the Technology sector, focusing on stocks such as Apple, Pure Storage, and Cohu.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $240.00 price target.