From Nasdaq: 2024-05-06 11:16:00

Apple’s stock received a boost after a positive fiscal second-quarter earnings report, prompting J.P. Morgan to raise the price target from $210 to $225 per share. Although iPhone sales saw a 10.4% decline in the quarter, management’s guidance sets up the company for strong growth in 2024. Services revenue continues to drive margins higher.

The strong iPhone franchise and growing services revenue position Apple well for the future. With double-digit revenue growth in the services segment and overall gross margins improving to 46.6%, Apple’s stock is considered a prime buy. Incorporating artificial intelligence into its products further enhances the company’s growth potential.

Despite Apple’s positive outlook, Motley Fool’s Stock Advisor analysts did not include it in their list of the 10 best stocks for investors to buy now. This investment service, which has outperformed the S&P 500 since 2002, offers a roadmap for success through portfolio building and regular stock picks. Consider the potential gains as seen with past recommendations like Nvidia.



Read more at Nasdaq: Is Apple Stock Going to $225? 1 Wall Street Analyst Thinks So