With new iPhones just around the corner, Apple (AAPL) stock is receiving price forecast upgrades from experts on the stock market. Previously rated a sell and hold by numerous experts, analysts are changing their tune as the popular yearly Apple sales period nears. Analysts at MoffettNathanson recently upgraded AAPL to Neutral from Sell with a $225 price target. A number of key headwinds have faded and the “worst-case scenarios are off the table,” the firm tells investors.
Meanwhile, other analysts largely agree on a positive outlook for Apple. Tigress Financial leads with a $300 target, reflecting strong confidence in Apple’s growth. Wedbush maintains a high price target score of 91.28. Wedbush reiterated its ‘Outperform’ rating, with a price target of $270.
Apple (AAPL) to Continue Dominant Reign With September iPhone Sales?
The upcoming quarter is typically the tech giant’s best-performing period, with the upcoming iPhone 17 launch no different. The stock is already up 17% in the last 30 days, and could surge further if this quarter sees a solid boost from iPhone sales. Further, many analysts see Alphabet (GOOGL)’s recent lawsuit win as a win for Apple as well, with the two stocks often tied together.
CNBC’s Jim Cramer was the most recent to point this out, arguing that both tech giants won the DOJ investigation. “It’s also a big win for Apple, which got paid billions, perhaps more than 20 billion a year, to preload Google on their devices,” Cramer said on a recent Mad Money episode. “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.”
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Furthermore, JPMorgan’s July stock forecast for Apple (AAPL) stock could ring true should the upcoming sales period outperform expectations. The firm pitted AAPL to reach $250 in the next 2 months, rating the stock overweight. “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 delivering acceleration in earnings growth,” analyst Samik Chatterjee said this Summer.
At $239, AAPL is trading near the top of its 52-week range and above its 200-day simple moving average. A successful climb past $250 could indeed put AAPL on the path to $300 by October 2025.