Apple (SYM: AAPL) has more room to run.
That’s according to Bernstein analysts, who just hiked their price target to $240 with an outperform rating. “We believe the principal reason for incremental investor enthusiasm for AAPL is that investors now believe Apple can be a leader in AI, not a laggard,” they said, as quoted by CNBC.
They added, “Apple could see earnings per share in the range of $7.50 to $8 for the 2025 fiscal year. That would place it in a multiple of between 30 and 32-times, which leads to the new price target.”
Last trading at $209.68, we’d like to see it closer to $250, near-term on the AI story.
