The post Analysts revise Apple stock price target after iPhone 16 reveal appeared on BitcoinEthereumNews.com.

After Apple (NASDAQ: AAPL) recently unveiled its new products, including the iPhone 16, Wall Street analysts’ ratings have been pouring in, with most of them retaining their original ratings and targets but some revising their Apple stock price targets for the next 12 months. As it happens, Apple has triggered a wave of optimism after debuting its recent product line, which it believes might kickstart a new major sales cycle after several years of lagging iPhone sales amid hardware upgrades nearing their peak and less need for further advancements. Analyst upgrades Apple stock price target In this context, Wedbush Securities analyst Dan Ives has increased his Apple stock price target from $285 to $300, maintaining the ‘buy’ recommendation and arguing that the iPhone 16 launch would drive Apple to a $4 trillion valuation by 2025 through its artificial intelligence (AI) innovations. Furthermore, in a recent X post and interview with CNBC’s Squawk on the Street, Ives shared his company’s belief that “iPhone 16 will be a renaissance of iPhone growth for Apple with China growth now on the horizon again.” Specifically, after the iPhone 16 reveal, Ives wrote that: “The new era of personalization and how consumers interact with their iPhones has now begun. We believe this will cause a renaissance of iPhone growth (high-single-digit growth upside) for Apple over the next 12 to 18 months and drive shares higher with a $4 trillion market cap in 2025.” Meanwhile, most other analysts share Ives’s optimism, with the average Wall Street Apple stock price target standing at $249.82, reflecting a potential increase of 13.50% from its current price, the lowest target at $186 (-15.50%), and the highest amounting to $300 (+36.30%). Wall Street’s Apple stock price prediction 2025. Source: TipRanks Apple stock price analysis For the time being, the price of…

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Filed under: News - @ September 11, 2024 8:25 am