Apple stock has strong growth potential, with analyst predicting a 21% rise.

From Nasdaq: 2024-05-20 09:07:24

Apple (AAPL), worth $2.9 trillion, stands as a top tech company with loyal customers. Despite stock performance lagging behind other tech giants in 2024, analysts see strong upside potential. Bank of America’s Wamsi Mohan highlights Apple’s growth strategies, impressive dividend increases, and potential benefits from generative AI technology. Apple’s Q2 revenue dropped to $90.7 billion, led by lower iPhone sales offset by service revenue growth. The company awaits a boost in revenue from its recent launch, Vision Pro. CEO Tim Cook is optimistic about future AI investments and growth. Analysts predict slight revenue growth in fiscal 2024 and 2025. Apple offers a lower dividend yield but shows potential for future growth. Wall Street analysts rate AAPL stock a “moderate buy,” with an average target price of $204.96. Company’s strong brand, customer loyalty, and R&D investments make it an attractive long-term investment.



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