TD Cowen analyst Krish Sankar maintained a Buy rating on Apple today and set a price target of $275.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Krish Sankar has given his Buy rating due to a combination of factors that highlight Apple’s strong market position and growth potential. The positive consumer reception for the iPhone 17, along with the steady demand for replacement units, is expected to drive favorable sentiment and revenue growth. Additionally, the anticipated AI upgrade cycle in the coming years is likely to further enhance iPhone sales, contributing to Apple’s robust outlook.
Moreover, Apple’s Services segment is projected to grow significantly, with a 13% year-over-year increase, supported by stable search ad revenues from Google. Despite some regulatory challenges, the resolution of key cases has removed significant overhangs, bolstering confidence in future growth. The Mac, iPad, and Wearables segments also show potential, although mixed macroeconomic conditions in China could pose some short-term challenges. Overall, these factors combined support a positive outlook for Apple’s stock.
According to TipRanks, Sankar is a top 100 analyst with an average return of 29.4% and a 66.15% success rate. Sankar covers the Technology sector, focusing on stocks such as Apple, Micron, and Applied Materials.
In another report released on October 24, Monness also maintained a Buy rating on the stock with a $270.00 price target.