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Investing.com - DA Davidson has reiterated its Neutral rating and $250.00 price target on Apple (NASDAQ:AAPL) stock on Monday, as the tech giant trades near its 52-week high at $265.44, commanding a market capitalization of $3.95 trillion.
The research firm expressed caution about Apple’s current valuation, noting that the company carries the highest forward earnings multiple among its peer group despite having the lowest expected growth rates. According to InvestingPro data, Apple trades at elevated multiples across key metrics, with revenue growing at 5.97% over the last twelve months.
DA Davidson indicated that it does not anticipate resolution on iPhone growth expectations this early in the product cycle season.
The firm’s maintained price target of $250.00 reflects its assessment of Apple’s near-term growth prospects and market position.
This rating comes as investors continue to evaluate Apple’s performance in its flagship iPhone segment, which remains a critical driver of the company’s overall financial results.
In other recent news, Globalstar has been the subject of speculation following reports that its chairman, James Monroe, is considering selling the satellite communications company for over $10 billion. This potential sale price would be a substantial premium over its current market capitalization of approximately $5.3 billion, as reported by The Information. Meanwhile, Apple has maintained its Neutral rating with a $220 price target from UBS. The investment firm’s data shows that iPhone 17 wait times are trending flat to lower week-over-week across 30 geographies.
Additionally, Apple is facing a new antitrust complaint in the European Union, filed by Article 19 and Germany’s Society for Civil Rights. The complaint alleges that Apple’s App Store terms and conditions, as well as its device policies, breach the EU’s Digital Markets Act. In China, Android smartphone shipments increased by 16% year-over-year in July, but third-quarter sell-through is estimated to decline by approximately 4% year-over-year, according to a Jefferies report. The report also highlights concerns about growing inventory for Android manufacturers, contrasting with Apple’s iPhone shipments, which rose 16% year-over-year with strong sales and reduced inventory days.
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