Apple Stock Forecast: Raising My Apple Price Target to $388
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
- Apple handily beat the $330 price target I gave it last may 10. I’m therefore raising my one-year PT to $388.
- There’s a global pandemic and yet AAPL touts a year-to-date price return of +19.09%. Its 1-year price return is +76.74%.
- Investors are bullish on the strong rumor that Apple will use its ARM-based processors on some of its next-generation Mac computer products.
- ARM-based Macs can help boost the computer segment of Apple. This will help further reduce Apple’s heavy reliance on iPhones sales.
- An ARM-based MacBook, iMac, and Mac Mini would be cheaper than Intel x86-based Apple computers. Catering to more sectors of buyers is good for Apple.