Apple’s “Spring Loaded” product launch event is scheduled for next Tuesday, yet Apple stock dipped on Wednesday the day after the Cupertino Colossus announced the online event.
Patrick Seitz for Investor’s Business Daily:
Analysts widely expect Apple to debut a refreshed lineup of iPad tablets as well as Apple Silicon-based iMac desktop computers during its video presentation. It might even unveil its long-awaited item trackers, which would compete with products from privately held Tile, Samsung and others.
Among the rumored products Apple has in its pipeline is a new high-end iPad Pro tablet. It’s said to feature a 12.9-inch mini-LED display, speedier processor and a 5G wireless chip. An 11-inch version is in the works as well, MacRumors reported. Apple also could trot out a new base model iPad and a new iPad Mini, 9to5Mac reported. Apple AirTags are another possible product for the “Spring Loaded” event. The smart trackers would allow people to find missing items like car keys and wallets.
In afternoon trading on the stock market today, Apple stock fell 1%, near $133.05.
On Wednesday, Evercore ISI analyst Amit Daryanani added Apple stock to his firm’s “tactical outperform list.” He reiterated his outperform, or buy, rating on Apple stock with a price target of $175.
MacDailyNews Take: It’s healthy to pause at times, to rest and reflect, along the climb.
Is this price target being reached by the end of the year or sometime next year? It’s a bit vague. The coming April Apple Event certainly won’t move the share price very much and may even cause the share price to drop slightly. Big investors never particularly like Apple Events as they’re usually disappointed with whatever products Apple announces. We’ll just have to wait and see. Apple is no Tesla where investors go bonkers over everything Tesla announces.