#4 - Apple (NASDAQ:AAPL)
I’ll be upfront and say I haven’t had time to fully absorb the thought of an “iCar” being part of the electric vehicle (EV) mix. That’s not why Apple (NASDAQ:AAPL) makes this list. But it doesn’t hurt. Apple is simply a company that has a whole that is greater than the sum of its parts.
Although there’s no reason to believe Apple will become less reliant on its iconic iPhone anytime soon, the iPhone is just one revenue stream, albeit an important one. The company now has divisions such as Services and Wearables that are catalysts for growth.
All of these parts are connecting consumers deeper and deeper into the Apple ecosystem. And that may be the impetus behind Apple’s foray into the EV sector. If self-driving cars become the norm (and that’s a big if), then consumers will likely be using their Apple devices to pass the time on their commutes. At least that’s the opinion of Goldman Sachs (NYSE:GS).
To be honest, Apple has largely shrugged aside the pandemic, and after a stock split, AAPL stock continues to move higher. And recent price targets by analysts seem to agree with that.
About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Read More - Current Price
- $254.49
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 11 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $236.78 (7.0% Downside)
