.August 28, 2024 04:02:00 PM

Tigress Financial Partners analysts raised Apple’s price target to $295, maintaining a Strong Buy rating due to the upcoming AI-powered iPhone 16 launch driving a major upgrade cycle. Apple’s expanding ecosystem includes new product launches like the AI-enhanced iPhone, AirPods, and Watch. Q3 2024 saw a 5% year-over-year revenue increase to $85.8 billion, with a 14% jump in Services revenue. Apple’s strong position in AI is expected to revolutionize user interaction with advanced features like enhanced Siri and writing tools, unlocking significant growth potential. CFO Luca Maestri will retire at the end of 2024, with Kevan Parekh taking over in January 2025.