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On Tuesday, Citi analysts upheld a Buy rating and a $240.00 price target for Apple stock (NASDAQ:AAPL), following the company’s Worldwide Developers Conference (WWDC) held on the same day. According to InvestingPro data, Apple currently trades at $201.45, with analyst targets ranging from $170 to $300, reflecting the market’s mixed sentiment about this prominent Technology Hardware player. The company’s current valuation appears elevated based on InvestingPro’s Fair Value analysis. The event showcased a significant overhaul of Apple’s software designs across all platforms, the introduction of new operating systems, and updates to Apple Intelligence.
The Citi analyst praised the new "Liquid Glass" design that unifies the user experience across Apple devices, the enhancements made to Vision Pro, the introduction of a more Mac-like iPadOS, and the integration of more iPhone apps into MacOS to ensure continuity. The analyst also noted the deep integration of Apple Intelligence in apps across Apple devices. With a robust financial health score of "GOOD" from InvestingPro, Apple maintains a strong market position, boasting a market capitalization of $3 trillion and impressive profit margins of nearly 47%.
Despite recognizing that investor attention might be on the delayed update of personalized Siri, which is now postponed to 2026, the analyst expressed approval of the updates presented at the WWDC. The forecast for iPhone unit sales remains unchanged at 226 million and 234 million for the years 2025 and 2026, respectively. This projection suggests year-over-year growth of 0.6% and 3.2%.
The report also anticipates a possible increase in sales in the June quarter due to a temporary halt on reciprocal tariffs in China and other countries, along with pending decisions on Section 232. However, it mentions that there could be more uncertainties in the second half of the year. Despite these potential issues, Citi maintains its Buy rating on Apple stock.
In other recent news, Citi analysts have placed Skyworks Solutions (NASDAQ:SWKS) and Qorvo (NASDAQ:QRVO) on a 90-day catalyst watch due to promising signals from the Apple supply chain. The anticipation stems from potential better-than-expected results in the June and September quarters, possibly benefiting both companies, which rely heavily on Apple for sales. Meanwhile, UBS has maintained a Neutral rating for Apple, with a $210 price target, following the Worldwide Developers Conference (WWDC). UBS analysts noted that Apple’s recent software announcements are unlikely to significantly impact iPhone demand. In contrast, Raymond (NSE:RYMD) James reaffirmed an Outperform rating for Apple, with a $230 target, citing the company’s ongoing AI advancements as a positive factor. Evercore ISI also reiterated an Outperform rating, setting a $250 target, and highlighted Apple’s incremental updates and integration of AI features. Finally, Wedbush maintained an Outperform rating with a $270 target, emphasizing Apple’s cautious approach to AI and the potential need for acquisitions to enhance its strategy. These developments reflect a varied yet optimistic outlook among analysts regarding Apple’s future performance and innovation trajectory.
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