$Apple(AAPL)$ Bullish. Apple S-To The Moon - Tiger Brokers Online Investing Community - To The Moon

$Apple(AAPL)$ Bullish.

Apple Stock Set to Break Brutal Losing Streak. Why It Remains Evercore’s ‘Top Pick.’

Key Points

About This Summary

Apple stock declined 5.4% over seven trading days, marking its longest losing streak since May.

Evercore ISI analysts project near-term upside for Apple, reiterating an Outperform rating and a $330 price target.

Strong iPhone demand and minimal memory cost headwinds are expected to drive revenue growth of 10% to 12%.

Analysts at Evercore think there are factors that could turn the stock around in the near term. The firm reiterated an Outperform rating for Apple shares and nudged its price target to $330 from $325 in a research note Friday, citing strong revenue and earnings estimates for the quarter ended in December.

Apple reports those results on Jan. 29.

“Our checks coupled with industry data points suggest that there is near-term upside to AAPL estimates driven by robust iPhone demand + minimal memory cost headwind,” wrote analysts led by Amit Daryanani.

On the demand side, Apple had told investors to expect 10% to 12% revenue growth last quarter. That would be its first double-digit growth quarter since fiscal 2022, but Evercore expects that the company outperformed even those lofty expectations. The firm sees strong demand across North America, China, and India, with only modest weakness in Europe.

“Demand has also skewed towards the higher-end models,” Daryanani wrote. Sales of fancier phones mean higher average prices.

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Why It Remains Evercore’s ‘Top Pick.’</p>\n<p>Key Points</p>\n<p>About This Summary</p>\n<p>Apple stock declined 5.4% over seven trading days, marking its longest losing streak since May.</p>\n<p>Evercore ISI analysts project near-term upside for Apple, reiterating an Outperform rating and a $330 price target.</p>\n<p>Strong iPhone demand and minimal memory cost headwinds are expected to drive revenue growth of 10% to 12%.</p>\n<p>Analysts at Evercore think there are factors that could turn the stock around in the near term. 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Sales of fancier phones mean higher average prices.</p></body></html>","text":"$Apple(AAPL)$ Bullish. Apple Stock Set to Break Brutal Losing Streak. Why It Remains Evercore’s ‘Top Pick.’ Key Points About This Summary Apple stock declined 5.4% over seven trading days, marking its longest losing streak since May. Evercore ISI analysts project near-term upside for Apple, reiterating an Outperform rating and a $330 price target. Strong iPhone demand and minimal memory cost headwinds are expected to drive revenue growth of 10% to 12%. Analysts at Evercore think there are factors that could turn the stock around in the near term. The firm reiterated an Outperform rating for Apple shares and nudged its price target to $330 from $325 in a research note Friday, citing strong revenue and earnings estimates for the quarter ended in December. Apple reports those results on Jan. 29. “Our checks coupled with industry data points suggest that there is near-term upside to AAPL estimates driven by robust iPhone demand + minimal memory cost headwind,” wrote analysts led by Amit Daryanani. On the demand side, Apple had told investors to expect 10% to 12% revenue growth last quarter. That would be its first double-digit growth quarter since fiscal 2022, but Evercore expects that the company outperformed even those lofty expectations. The firm sees strong demand across North America, China, and India, with only modest weakness in Europe. “Demand has also skewed towards the higher-end models,” Daryanani wrote. 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