Analysts’ ratings on Apple stock
According to the data compiled by Reuters on April 30, 51% of the 41 analysts covering Apple (AAPL) have given its stock “buy” recommendations. Another 44% of analysts have given the stock “holds,” while the remaining 5% of analysts (or two) have given it “sell” recommendations.
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No major upside potential
On April 30, analysts’ consensus 12-month target price on Apple was $208.09, reflecting a minor potential upside of ~3.7% from its current price of $200.67. In the last three months, Wall Street analysts’ consensus target price on Apple stock has significantly risen from $177.43.
Many notable analysts have upgraded Apple stock due to their high expectations for Apple’s recently announced services as well as their expectation of a gradual recovery in the company’s iPhone sales. Nearly three months ago, the majority of analysts covering Apple (or 51%) were recommending “holds” on its stock.
Ratings on Apple’s peers
Analysts’ recommendations and target prices for Apple’s peers (QQQ) on April 30 were as follows:
- Microsoft (MSFT): 92% of analysts gave it “buy” recommendations, and its consensus target price reflected a potential upside of ~9.0% from its current price.
- Alphabet (GOOG): 95% of analysts gave the stock “buy” recommendations, and it had a solid potential upside of ~11.9% for the next 12 months.
- Amazon (AMZN): 96% of analysts gave it “buy” recommendations, and its consensus target price suggested a potential upside of 12.2%.
Despite the recent weakness in Apple’s iPhone sales, consistent positive growth in its Services segment could keep investors’ optimism alive in the near term.