Apple Stock News
For the latest Apple Stock News, AAPL closed at $114.92 on Friday, September 16th, with a loss of 0.56%, or $0.65 from Apple’s previous closing of $115.57. Since the last stock news from Sept. 14th, in the past 2 days, the stock increased by almost 3%.
Investor Confidence in Apple
The iPhone 7 and iPhone 7 Plus has arrived. Apple customers who managed to receive the phones before they were sold out are excited to be using one of the most advanced and sought after phone. Apple users are not the only ones excited for this moment. Analysts are taking interest in Apple’s strong pre-order sales. After 4 US wireless carriers released encouraging comments of the iPhone 7 sales, including T-Mobile and Sprint, indicating that pre-orders for the iPhone 7 were four times more than its predecessor the iPhone 6 and 6s, 5 analysts reviewed their position and have released the following in the past few days:
- Morgan Stanley maintains an outperforming rating, with a price target of $123
- Goldman Sachs maintains a buy rating, with a price target of $124
- CLSA maintains a buy rating, with a price target of $130.00
- BMO Capital Markets maintains a buy rating, but increased the price target by over 20% from $116 to $140.
- Credit Suisse maintains its outperform rating of $150. Revealing a potential est. 30% potential increase in stock price.
All 5 analysts believe the stock is undervalued has the potential to increase in value between 7% to 30% from its last close price of $114.92 in Sept. 16th. Just as the previous article discusses how the iPhone 7’s encouraging news in sales are giving investors confidence investing in Apple, such news are also giving analysts the confidence in rating Apple as a stock to outperform the market or buy.