1 Wall Street Analyst Thinks Apple Stock Is Going to $273. Is It a Buy?

The stock of Apple (NASDAQ: AAPL) is up 22% year to date in 2024, but Morgan Stanley analyst Erik Woodring weighed in this week by maintaining an overweight (buy) rating on the shares with a price target of $273. This implies upside of 15% over the current $237 share price.Woodring still sees artificial intelligence (AI) becoming a key catalyst for iPhone sales over the next year. But it's uncertain how much an increase in sales will affect the stock's performance given its premium valuation.A recent survey by the technology review website CNET found that longer battery life is a bigger priority for Apple users than AI features. If the survey's results are accurate, it could mean Apple Intelligence won't drive the level of iPhone upgrades to justify buying the shares at these highs.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool