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According to this analyst, Apple stock will rise 24% to $ 140

Shares of Apple (NASDAQ: AAPL) will soon recover from their post-split decline and return to new all-time highs.

So says Needham analyst Laura Martin. On Wednesday, Martin repeated her buy recommendation on Apple’s stock and raised her price forecast from USD 112.50 to USD 140. Her new goal is a potential return for investors of around 24% from the current price of the stock, which is close to $ 113.

A person points to a graph that goes up, then goes down, and then goes up again.

Apple’s stocks are poised to rebound, says an analyst. Image source: Getty Images.

Martin welcomed Apple’s move to bundle its services. On Tuesday, the company presented Apple One, with which customers can bundle up to six of its services in one subscription at a reduced price. Martin believes the bundle will help Apple separate from its standalone competitors.

She also sees Apple’s bespoke chips as another key competitive advantage. She predicts that with each new device it launches, the gap between Apple and its competitors will widen, improving its ability to fetch higher prices (and therefore profits) over time.

Will Apple’s Share Price Reach $ 140?

Martin’s logic is sound. Apple’s custom chips should help keep the products separate from the box, and the new package should bring more people into the fast-growing service ecosystem. Apple’s sales and profits could, in turn, rise sharply, driving the share price higher along the way. As such, it seems not only possible, but also likely, for its stocks to hit $ 140 in the coming year, and it could happen faster than many investors are currently anticipating.

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