What Wall Street Analysts Think of Apple Stock Ahead of Monday's iPhone 16 Event
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Key TakeawaysMost Wall Street analysts are bullish on Apple stock ahead of the "It's Glowtime" iPhone 16 launch event on Monday, Sept. 9.The company is expected to unveil the iPhone 16 supercharged with artificial intelligence (AI) together with Apple's next-generation AirPods and Apple Watch.Consensus analysis compiled by Visible Alpha as of Thursday indicated that more than half (about 69%) of the Apple analysts tracked have a "buy" rating on the stock.The mean consensus price target for the analysts examined was $244.06, representing a 10.5% premium over Wednesday's closing price.Investors will likely be watching for stock movement, as the event could signal that the company is benefiting from its AI opportunity, and a "golden upgrade cycle" is underway.
Wall Street analysts are mostly bullish on Apple (AAPL) stock leading up to the company's "It's Glowtime" event on Monday, where Apple is expected to unveil the iPhone 16 supercharged with AI and the next-generation AirPods and Apple Watch.According to data as of late Thursday, more than half (roughly 69%) of the analysts covering Apple and tracked by Visible Alpha—11 out of 21—have "buy" or equivalent positive ratings on the stock. An additional four analysts have a "hold" rating, while only one has posted a "sell" rating.Average Price Target Above Current Stock PriceThe average of the consensus price targets examined was $244.06, representing a 10.5% premium over Wednesday's closing price. The price-target levels in the consensus analysis range from $162 to $285.Investors likely will be watching for signs that the iPhone maker is leveraging its AI opportunity and that the "golden upgrade cycle" has kicked off, driven by the AI iPhone 16.Apple shares were up about 0.6% at $222.38 late Thursday, contributing to the stock's almost 16% rise since the start of the year. Read the original article on Investopedia.
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