Powell’s speech, Nvidia’s chips, Meta deal - what’s moving markets
Investing.com - Loop Capital has lowered its price target on Apple (NASDAQ:AAPL) to $226.00 from $230.00 while maintaining a Hold rating on the stock. The tech giant, currently trading at $226.01 with a market capitalization of $3.36 trillion, is trading at relatively high multiples according to InvestingPro data.
The adjustment reflects anticipated mix shifts toward Pro and Pro Max models, lower air models, and average selling price (ASP) adjustments, according to the firm.
Loop Capital’s estimate changes are based on supply chain checks conducted throughout the component and contract manufacturer ecosystems by the firm’s Supply Chain Analyst.
These supply chain insights were detailed in a research note titled "One Last Bite of the AAPL - Builds, Shipments Augmented - Final Thoughts."
Despite the price target reduction of $4.00, Loop Capital has kept its Hold recommendation on Apple stock unchanged.
In other recent news, Apple has seen significant developments. The company is reintroducing its blood oxygen tracking feature for Apple Watch users in the United States following a legal battle with Masimo Corp (NASDAQ:MASI). This feature, previously removed due to a patent infringement lawsuit, is returning through the latest software updates. Additionally, Apple is expanding its partnership with GlobalFoundries (NASDAQ:GFS) to enhance wireless connectivity and power management technologies, bolstering U.S. chip manufacturing.
In terms of analyst activity, Melius Research has raised its price target for Apple to $260, maintaining a Buy rating, citing optimism around upcoming iPhone product cycles. BofA Securities also increased its price target to $250, highlighting the potential tariff exemptions for Apple products due to the company’s growing U.S. investments. Meanwhile, data from the China Academy of Information and Communications Technology indicated a 31% year-over-year decline in foreign-branded phone shipments in China, affecting Apple’s iPhone sales. These recent developments reflect both challenges and growth opportunities for Apple in various markets.
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