Apple stock tops a list of five stocks chosen by top Wall Street pros, according to TipRanks, a platform that ranks analysts based on their performance history.
Monness Crespi Hardt analyst Brian White said that [Apple’s new] product introductions enhanced “a portfolio that has never been stronger and a platform more ubiquitous.”
White was cautious that the treacherous macro environment may make consumers hesitate to indulge in a new smartphone purchase. However, he was encouraged by the fact that the company did not hike the prices of the iPhone 14 smartphones.
White notes that Apple’s current price-to-earnings is above its average over recent years. However, looking at the long-term business model, the analyst was upbeat that Apple’s strong services business has created a solid foundation of consumer confidence.
The analyst, who is at the 470th position among nearly 8,000 analysts tracked on TipRanks, assigned a buy rating on AAPL stock, with a price target of $174.
MacDailyNews Take: The other four stocks are discussed in the full article here.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Shop The Apple Store at Amazon.
A reco on a “risk-on” tech stock, AAPL or not, in these times of The Fed f’g around is bizarre. Way too much uncertainty in the WW market to see this as anything but a reach. Wait and buy low(er).