With multiple catalysts ahead, Apple (NASDAQ: AAPL) looks rather appealing.
For one, analysts at Bank of America say the stock could soar 36% as it nears the launch of its artificial intelligence-enabled iPhone. The firm also reiterated its buy rating, with a price target of $225, noting that much of the weakness with expected earnings has been priced in.
Two, the company just announced it will hold an event on May 7, “amid reports that it would roll out the long-anticipated revamped versions of iPad Pro and iPad Air next month,” according to Reuters. And three, the company is nearing its Worldwide Developers Conference (WWDC) in June, where it’s expected to unveil new artificial intelligence-enabled products.
Even better, as noted by Business Insider, the firm “expects Apple to increase its capital return to shareholders when the company reports its fiscal second-quarter results. That could come in the form of an increased dividend, an increased stock buyback program, or both. Mohan expects a 5% dividend increase and a $90 billion stock buyback program.”
Plus, according to Wells Fargo, as noted by TheFly.com, “Ahead of Apple’s quarterly results, Wells Fargo says that weak iPhone ship plus GenAI strategy and regulatory concerns has led to negative sentiment in the shares. The firm sees a tough Q2 tactical setup and says investors should consider buying the stock on any weakness post print. Wells has an Overweight rating on the shares with a price target of $225.”
Last trading at $166.90, it’s oversold at support dating back to late October. It’s also over-extended on RSI, MACD, and Williams’ %R. From its last traded price, we’d like to see Apple retest $185 a share near term.
Related Read: Man Who Called $3 Trillion Apple Predicts The Next Trillion Dollar Stock
In 2007…
…he predicted Facebook would become a $100 billion company.
In 2010…
…he predicted Apple would reach a three-trillion-dollar valuation.
In 2013…
…he called Bitcoin — before it rose 50,000% and ultimately reached a trillion-dollar market cap.
And now…
This A.I. Genius is stepping into the spotlight to predict the next-trillion stock.
