Erste Group upgrades Apple to Buy with increased revenue forecast and higher EPS

From Nasdaq: 2024-06-14 18:08:46

Erste Group upgraded Apple’s outlook to Buy on June 14, 2024, from Hold. The average one-year price target is $210.30, with a range from $165.64 to $288.75. Forecasted annual revenue is $436,698MM, a 14.43% increase, and projected non-GAAP EPS is 6.93. Fund sentiment shows an increase in institutions holding Apple shares.

Berkshire Hathaway holds 789,368K shares of Apple, representing 5.15% ownership. Vanguard Total Stock Market Index Fund Investor Shares and Vanguard 500 Index Fund Investor Shares also decreased their portfolio allocation in Apple by 19.25% and 19.56%, respectively. Geode Capital Management and Price T Rowe Associates made similar adjustments.

Apple, one of the Big Five companies in the U.S. information technology industry, offers a variety of hardware products, software services, and online services. Founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple has grown rapidly over the years to become a leading technology company. Their range of products and services include the iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, and much more.



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