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Apple stock will rise 24% to $ 140, according to this analyst

Shares of Apple (NASDAQ: AAPL) will soon recover from their decline after splitting and return to new all-time heights.

So says Needham analyst Laura Martin. On Wednesday, Martin reiterated its buy rating on Apple’s stock and increased its price forecast from $ 112.50 to $ 140. Her new target represents potential gains for investors of approx. 24% relative to the current price of the stock near $ 113.

A person points to a chart that rises, then falls and then rises again.

Apple shares are ready for a rebound, says an analyst. Image source: Getty Images.

Martin welcomes Apple’s transition to consolidating its services. On Tuesday, the company unveiled the Apple One, which allows customers to bundle up to six of its services in a discounted subscription. Martin believes the package will help Apple take share from its stand-alone competitors.

She also sees Apple’s specially designed chips as another important competitive advantage. She predicts that the gap between Apple and its rivals will widen with each new device it launches, increasing its ability to control higher prices (and by extension profits) over time.

Will Apple’s stock price be $ 140?

Martin’s logic is sound. Apple’s custom chips should help further differentiate its products from the package, and its new package should draw more people into the fast-growing ecosystem of services. Apple’s revenue and profits could rise sharply again, driving its stock price higher along the way. Thus, its shares see hitting $ 140 in the coming year not only possible but likely, and it could happen faster than many investors are currently expecting.

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