.August 6, 2024 Tuesday 09:50:19 AM

Apple Inc. (NASDAQ:AAPL) is shifting towards its services sector as a temporary solution to declining hardware sales, including iPhones, iPads, and Mac computers. Analysts have set a new price target of $260, indicating confidence in Apple’s long-term growth prospects despite challenges in its core business. The company’s reliance on services is highlighted as a response to its contracting hardware business, raising questions about sustaining growth in the future. Angelo Zino of CFRA’s optimistic outlook suggests a potential upside of approximately 26.82% from Apple’s current price of $205, reinforcing a Buy rating on the tech giant.