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Company: Apple (SYM: AAPL) Keep an eye on Apple (SYM: AAPL). The beaten-down tech giant is ridiculously oversold at support dating back to May. It’s also oversold on RSI, MACD, and Williams’ %R. And it’s overdue for a bounce back. Helping, 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. |
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Also, 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.” Second, they expect for Apple to make AI-related announcements at the upcoming WWDC conference in June. They also expect for Apple to launch an Ai-enabled iPhone later this year. |
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