Apple Stock Forecast: Why AAPL Price Can Hit $290

November 24, 2019
motek 1The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.

Summary:

  • The stock price of Apple is now more than 18% higher than it was during my September 19 buy recommendation.
  • I am still endorsing AAPL as a reasonable value play investment. My 90-day price target for AAPL is $290.
  • Apple will get a decent tailwind from Black Friday and Christmas shopping sales events. Entry-level iPhones are still more attractive than flagship Android phones.
  • The Second tailwind is the release of the new MacBook Pro. It should help Apple sell more than 5.3 million Mac computers this last quarter of 2019.
  • Stronger iOS hardware sales also increase the growth of Apple’s $12.5 billion quarterly revenue from its Services segment.

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