In a report released yesterday, Atif Malik from Citi maintained a Buy rating on Apple (AAPL – Research Report), with a price target of $245.00.
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Atif Malik has given his Buy rating due to a combination of factors that highlight Apple’s strong financial performance and strategic initiatives. The company reported impressive quarterly results, with sales reaching $95.4 billion, surpassing market expectations. Earnings per share were also slightly above projections, indicating robust profitability.
Additionally, Apple’s diverse product lineup showed resilience, with notable growth in iPhone, Mac, and iPad revenues. The company’s strong cash flow generation and shareholder-friendly actions, such as a dividend increase and a substantial share repurchase program, further reinforce its financial health. Malik also considers Apple’s strategic focus on expanding its services segment and navigating market challenges, such as tariffs and competition in China, as positive indicators for future growth.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $275.00 price target.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year.