From Nasdaq: 2024-04-10 10:03:36

Investors are concerned about declining iPhone sales at Apple (NASDAQ: AAPL) — down 9% in the U.S. and twice that in China. Lack of an AI product could impact share price. Apple stock is down 13% this year, but Bank of America remains bullish, predicting a potential 34% rise to $225.

Bank of America believes Apple stock is a buy due to a 10% increase in Q2 App Store sales. Despite negative hardware growth forecasts, services like App Store sales may drive future growth. Analysts expect a 10% earnings growth rate, questioning Apple’s high valuation over earnings ratio. Is Apple still a high-growth stock?

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Read more at Nasdaq: Apple Stock Has 33% Upside, According to 1 Wall Street Analyst