Apple (NASDAQ:APPL) was recently acquired from Wedbush Securities. The analyst offered very enthusiastic praise, but also cut one of the key indicators about the stock price: How are these two conditions at the same time? you might be surprised. Apple gained in Friday’s trading, but went into after-hours trading to recoup some of its gains.
Compliments first. Wedbush, an analyst he came out through Dan Ives, declared Apple to be a “Rock of Gibraltar” stock that could weather the storm in the tech sector. This is largely thanks to the huge number of users Apple already has. This walled garden represents a significant cash flow as users purchase new apps and new content. Not all of them will slow down at once, so Apple can reasonably guarantee foreseeable future cash flows.
However, Apple has its problems too. In fact, the trouble happened enough that Ives lowered his Apple price target from his original $200 to his $175 per share. However, the evaluation of “excellent” was left as it was. Ives points out that tech demand is likely to be more resilient than tech bears forecast. But Apple also has problems stemming from a deteriorating macroeconomic environment and supply chain disruptions. Apple has also been involved in corporate layoffs, which suggests at least some issues are on the way.
Despite all this, Wall Street remains a cornerstone of Apple. Apple stock is considered a strong buy by analyst consensus.We also offer the above stocks With an average price target of $176.70, there is an upside potential of 36.32%.
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