BofA sees potential for Apple to trade to the $230s, representing potential upside of more than 30%, even after significantly outperforming the S&P 500 amid the rally from the mid-June depths.
Matthew Fox for Business Insider:
The most valuable company in the world could soon see big gains ahead if it continues to outperform the broader stock market.
That’s according to Bank of America analyst Stephen Suttmeier, who said in a Wednesday note that Apple has a bullish technical setup that could send the stock to above $230, representing potential upside of more than 30% from current levels.
Suttmeier’s favorable outlook on Apple is based on the stock hitting a new relative all-time high when measured against the S&P 500. The relative outperformance of Apple against the broader market has been impressive since the June 17 low, with Apple up 31%, more than double the S&P 500’s gain of 15%…
[I]f Apple stock can break above its December 2021 peak of around $183, Suttmeier expects a measured move price objective in the $230s for the iPhone maker.
MacDailyNews Take: Technical, schmechnical.
Apple has the potential to trade well beyond the $230s. iCal it.
Buy and hold. AAPL longs will be rewarded handsomely (as many already have).
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Not if Joe Biden has anything to do with it.
You mean the incompetent Republican party gaslit nincompoops. Check how the economy did under Bill Clinton. Since I’m a Centrist I hate to admit the economy has always done better with Dems. But delusion is part and parcel with the Republicult and their operating principal of telling a lie often enough gets accepted as the truth.
Could you do better after inheriting an economy devastated by the Trump administration’s total incompetence around COVID as they gave yet more tax cuts to the rich?
But, who holds the purse strings determining money saved/money spent?
Old and naive argument that econ was good b/c Clinton. Yes, all presidents receive the credit/blame for happenings during their terms, but the actual reason wasn’t his policies. His spending policies were actually thwarted…due to the Rs holding the power of the purse in the House.
“Take a nonpartisan view and you’ll see,” he says.
But, “with Clinton_smart enough…fortunate president” and in a non-partisan way, he adds:
“obstructionist Grinch,” tightwad GOP, Grand Old Grifters club, The Dimwit Don, and…
I see you’re still working on the “principle” you’re espousing to the masses.
Thank you Mr. Stalin. It’s fascinating to observe that your cruelty and inhumanity is still intact. Drop dead you kook.