Wall Street analyst revises Apple stock price as ‘iPhone 16 cycle appears tepid’
A Wall Street analyst has reaffirmed an optimistic outlook for Apple (NASDAQ: AAPL) stock, even as the iPhone 16 cycle appears underwhelming.
This projection could boost Apple’s share price, which is striving to establish a strong position above the $230 mark. The stock was valued at $228.28 at press time, having risen about 0.1% in the last 24 hours.
On a monthly chart, Apple has exhibited volatility, dropping nearly 3.5%. However, in 2024, AAPL is up over 22%.
Analyst’s outlook for AAPL stock
Now, Toni Sacconaghi of Bernstein has maintained an ‘Outperform’ rating for the stock, setting a target price of $240. He emphasized the company’s robust…
