From Nasdaq: 2024-04-18 11:43:00

Apple (NASDAQ: AAPL) stock is struggling as iPhone sales in China drop 37% year to date. Analyst Tom Forte predicts Apple stock may remain stagnant for a “prolonged” period, citing a $178 price target. With 18.9% of revenue from China, Apple’s stock price could suffer from declining hardware sales and regulatory pressures, limiting growth potential.

Forte is not recommending selling Apple stock, but growth could be hindered by poor iPhone sales and regulation scrutiny. With analysts projecting only 10% profit growth annually for the next five years, Apple’s stock may not justify its current price-to-earnings ratio, especially if iPhone sales do not recover. Investor caution is advised.

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Take note that author Rich Smith holds no positions in mentioned stocks, and The Motley Fool discloses positions in and recommends Apple stock. Always conduct thorough research and consider multiple investment strategies to ensure sound financial decisions. The author’s opinions may not align with Nasdaq, Inc., views.



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