AAPL Stock Forecast: Why Apple Deserves A Price Target of $330
The 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 average one-year price target for Apple’s stock at TipRanks is only $319.86. Apple deserves a price target of at least $330.
- Apple is still hiring. Factories in China are back to normal operations. The ongoing pandemic is no longer a disruption to Apple’s business.
- Buying AAPL is still judicious. This stock is reasonably priced and has obvious long-term upside potential.
- Apple’s affluent customer pool can endure COVID-19’s financial headwind. Many of them will still be able to afford a $399 or $1,500 iPhone.
- The big surge in video game activities during this pandemic is a big tailwind for AAPL. Apple is also one of the biggest paid streaming entertainment companies.