Apple Inc Stock Forecast:
Based on the forecasts from 29 analysts, the average target price for Apple Inc’s (AAPL:NSD) stock over the next 12 months is USD 168.78. This means that the analysts on average believe that the stock price will reach that level within the next year.
The average analyst rating for Apple Inc is “Buy”, which means that the analysts on average believe that the stock is a good investment and will likely increase in value.
Stock Target Advisor has also conducted its own analysis of Apple Inc and has determined that the company’s stock is “Slightly Bullish”, which is based on 10 positive signals and 5 negative signals. This suggests that the company is likely to see some positive growth in the future but there are also some potential negative factors to consider.
The last closing price was USD 135.94, and the stock price has changed by +3.99% over the past week, +1.06% over the past month and -21.45% over the last year. This means that the stock price has increased slightly over the past week and month but has decreased over the past year.
Apple Inc. News:
Apple Inc (AAPL.NSD) has surprised the market with the launch of its latest MacBooks, which are powered by its new and faster M2 Pro and M2 Max chips. The roll-out of these devices using Apple’s latest versions of the M2 chip is an outgrowth of the tech giant’s decision in 2020 to use semiconductors designed in-house after 15 years of relying on Intel’s (INTC.NSD) technology.
The new Mac mini starts at $599 and will be available from January 24th, while the 14-inch and 16-inch MacBook Pro with the latest chips start at $1,999. This is compared to the $1,299 price tag for a 13-inch model fitted with the M2 chip. The new MacBook Pro models were expected for months, but supply-chain issues meant the launch was delayed from last year to early 2023, according to Bloomberg News.
Apple said that the new M2 Pro has nearly 20% more transistors than the M1 Pro and double the amount in M2, helping programs like Adobe Photoshop run heavy workloads “faster than ever.” The company, which gets its chips manufactured by Taiwan’s TSMC, replaced chipmaker Nvidia (NVDA.NSD) as one of the top ten semiconductor vendors by revenue last year, according to a Gartner report.
Andrew Norwood, VP Analyst at Gartner, estimates that the value of these Apple chips is equivalent to $17.6 billion in 2022. He attributes this growth to the increased cost of ever more complex chips.
Apple usually holds its first event of the year in March, when it rolls out its iMacs and accessories. This year’s spring event could include the launch of a long-awaited augmented reality headset.
Analysts Coverage Change:
Canaccord Genuity maintains Apple Inc. with a Buy rating. However, they have also lowered the target price to $170 from $200. This may be due soft demand and supply chain issues.
