1 May

Most Analysts Recommend ‘Buys’ on Apple after Its Q2 Report

WRITTEN BY Jitendra Parashar

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.

Most Analysts Recommend ‘Buys’ on Apple after Its Q2 Report

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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.

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