- Analysts have raised price targets for Apple (AAPL) ahead of new iPhone launches.
- MoffettNathanson and other firms see fewer risks for Apple stock as key headwinds fade.
- Price targets range from $225 to $300, with Tigress Financial showing the highest optimism.
- Upcoming iPhone sales and recent developments with Alphabet (GOOGL) are seen as positives for Apple’s stock outlook.
- Apple shares are trading near the top of their 52-week range, with expectations of continued growth this quarter.
Apple (AAPL) is receiving higher stock price forecasts from Wall Street analysts as the company prepares to release its latest iPhone models this September. The stock has risen 17% over the past month, and experts predict further gains during the traditionally strong fall sales period.
MoffettNathanson upgraded their rating on Apple shares from Sell to Neutral, setting a price target of $225. The firm noted that major risks have lessened and “worst-case scenarios are off the table” for investors. Other firms also boosted their price targets, with Tigress Financial projecting $300 and Wedbush maintaining an Outperform rating and a $270 target.
Analysts pointed to the upcoming iPhone 17 launch as a potential driver for higher quarterly sales. JPMorgan set an overweight rating, with analyst Samik Chatterjee forecasting the shares could reach $250 within two months if sales outperform expectations. Chatterjee stated, “We rate shares of Apple Overweight from the combination of AI and age of installed base led volume replacement cycle while Services continues to demonstrate robust growth.”
Positive developments in the tech industry, including Alphabet (GOOGL)’s recent lawsuit win, are viewed as helpful for Apple as well. CNBC’s Jim Cramer highlighted that Apple receives billions of dollars each year from Google for preloading its search engine on Apple devices, and some experts had expected this revenue to be at risk. Cramer said, “Most wags thought for sure Apple would lose this source of revenue, and numbers would have to be cut immediately. It could get even better.”
At its current price of $239, AAPL is trading above its 200-day simple moving average, near the top of its 52-week range. As the new iPhone launch approaches, investors and analysts will watch if Apple’s dominant sales streak continues. For more on related developments, see Intel Confirms Billions in US Funding: INTC Stock to Reach $30?.
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