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Investing.com - Rosenblatt has raised its price target on Apple (NASDAQ:AAPL) to $241.00 from $223.00 while maintaining a Neutral rating on the stock. The new target comes as Apple, currently valued at $3.48 trillion, trades at a P/E ratio of 35.5x. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
The price target increase follows Apple’s Tuesday launch of its new iPhone 17 series, which Rosenblatt noted features "notable improvements in camera capabilities and battery time" - factors historically important to iPhone buyers. The firm also highlighted the introduction of a new slim and lightweight Air model in the lineup. With annual revenue of $408.62 billion and healthy profit margins of 46.7%, Apple continues to demonstrate its market dominance.
Rosenblatt pointed to recent favorable developments for Apple, including the antitrust remedy ruling that allows Google to continue paying Apple over $20 billion annually for default search placement. The firm also noted that Trump has exempted Apple from "most onerous tariffs."
The research firm referenced Apple’s expansion of U.S. spending plans announced in early August, which increased by $100 billion over four years to reach $600 billion total. These developments have strengthened Rosenblatt’s confidence in its existing Apple financial model. InvestingPro subscribers can access 15+ additional exclusive insights and a comprehensive Pro Research Report that provides deep-dive analysis of Apple’s financial health, which currently rates as "GOOD."
The price target adjustment reflects Rosenblatt’s assumption of "continuation of a higher forward P/E" at 29x, compared to its previous 27x assumption, while the firm made only slight adjustments to its estimates for the company. Analyst targets for Apple currently range from $175 to $300, with 20 analysts recently revising their earnings estimates upward for the upcoming period.
In other recent news, Apple has seen several adjustments to its stock price targets by various analyst firms. Melius Research increased its price target for Apple to $290, maintaining a Buy rating, due to growing confidence in the company’s Services segment and reduced tariff risks. BofA Securities also raised its price target to $270, following Apple’s recent launch event where new versions of the iPhone, Watch, and AirPods were introduced with enhanced health features. Meanwhile, UBS kept its Neutral rating with a $220 price target, noting the market’s anticipation for the newly designed "Air" model, which replaces the underperforming "Plus" model.
Wedbush maintained its Outperform rating and a $270 price target, highlighting the significant upgrade potential among Apple’s global user base, with 315 million iPhone users who haven’t upgraded in over four years. Additionally, Rothschild Redburn increased its price target to $260, maintaining a Neutral rating, and pointed to Apple’s strengthening hardware focus, particularly at the 2025 iPhone launch event. These developments reflect a range of perspectives on Apple’s future prospects among analysts.
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