As a consequence of the weak macroeconomic situation early this year, Apple Inc. shares had sensed getting smacked. However, the great pullback in Apple stock has left investors curious that whether Apple is a good stock to buy now.
Apple stock forecast as reported by 21 analysts, the average Apple stock price target over the next 1 year is $177.76 per share. On average, analysts rate Apple Inc. stock as Strong Buy. Stock Target Advisors’ stock analysis of Apple stock forecast remains slightly Bullish which is built around 10 positive signals and 5 negative signals.
The Apple stock price was logged at $165.81 in the most recent close. Apple stock price per share has changed by +8.46% during the last week, +26.88% during the last month, and +12.75% throughout last year.
Apple Inc. designs, assembles, and sell smartphones, personal computers, tablets, wearables, and accessories globally. It also sells multiple linked services. Apple Inc. was built in 1977 and is based in Cupertino, California.
5 Reasons Why Is Apple Stock A Buy?
Citi analyst Jim Suva listed 5 reasons why investors should overlook Apple stock’s pullback!
1) Investors should not give up on the stock because Suva believes that the lined-up launch of iPhone 14 for September, can be a short-lived stock booster for Apple. There are other product launches on the track too which include AI headsets and the Apple Car. These products could lift Apple stock price most probably as early as 2025.
2) In a long-term scenario, Apple stock forecast tracks a consumer shift from low-priced competitors to premium-quality products like Apple. If the company expands its service segment, we will see stable revenue growth.
3) The $90 billion Apple stock buyback program or 4% of the market CAP will continue increasing the stock value. $81 billion buyback program in the fiscal 2021 report, Suva stated that such a buyback program makes the Apple stock price go higher and also catches the interest of investors.
4) Apple can still face a bunch of challenges in the near term. Suva forecasts that supply-chain issues can alter revenue growth by $4-$8 billion. The Russian exit and the foreign exchange rate could also affect the company’s revenue.
5) The shift in consumer demand will greatly affect the market for smartphones and headsets. Apple would face negative consequences in its growth.
Apple Stock Price History:
On Jan 3, Apple market CAP hit $3 trillion when its share price reached $182.86. Apple is the first company to log a $3 trillion market value. A day before, the Apple stock price closed at $182.88. The regular session of the Apple stock closed on July 5 at the Apple stock price of $141.56.
Apple became the first company to hit a $2 trillion market capitalization by August 2020.
Apple Stock Forecast-10 Things we like?
1. High Market CAP:
Apple Inc. is one of the biggest consumer electronics bodies and is lined up in the top quartile. Apple stock forecast hence depicts that the company tends to be very stable.
2. Satisfactory Risk Adjustments:
In comparison to its competitors in the sector, Apple stock price performs well on risk adjustments (with a hold duration of a minimum of 1 year) and can be seen in the top quartile.
3. Low Instability:
The yearly returns for Apple stock price have been stable and reliable as compared to its competitors (with a hold duration of a minimum of 1 year). Even though Apple stock price stability is good, remember it can also limit returns.
4. Higher Total Returns:
The yearly total returns analysis of Apple stock price shows that the company has outperformed during the last 5 years (with a hold duration of a minimum of 1 year).
5. Higher Return on Equity:
Apple stock forecast proves that Apple’s management has delivered more return on Equity as compared to its sector peers in the last 4 financial quarters while bringing it to the top quartile.
6. Higher Capital Usage:
Apple stock forecast verifies that Apple’s management has delivered more return on invested capital as compared to its sector peers in the last 4 financial quarters while bringing it to the top quartile.
7. Higher Return on Assets:
Apple stock forecast verifies that Apple’s management has delivered more return on assets as compared to its sector peers in the last 4 financial quarters while bringing it to the top quartile.
8. Positive cash flow:
In the past 4 quarters, Apple stock price has received positive total cash flows.
9. Positive free cash flow:
In the past 4 quarters, Apple stock price has received positive total free cash flows.
10. Superior Dividend Growth:
Apple stock dividend growth during the last 5 years compared to its sector has shown top quartile.
In Conclusion:
The fundamental analysis of Apple stock forecast remains Bullish. The average analyst rating is Strong Buy at Apple stock price target of $177.76.
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