#3 - Apple (NASDAQ:AAPL)
It seems like a yearly occurrence. Apple (NASDAQ:AAPL) launches a new iPhone, and analysts question whether this will be the year when consumer demand will abate. Yet every year, Apple manages to silence its critics. That theory was tested during the Covid-19 pandemic, and in both 2020 and 2021, the company managed to launch new products.
As a result, Apple’s revenue and earnings continue to rise. As pointed out in the introduction, the price of the company’s iconic iPhone has been up 81% since it was first launched. Yet demand remains as strong as ever. The company sees similar pricing power with other products in its portfolio, including its Apple Watch.
Apple was the first trillion-dollar company in 2018 and became the world’s first three trillion-dollar company in 2022. The company’s market cap has fallen back a little since that time. However, as the company continues to move into the area of services, its runway for growth will continue to expand as well.
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
- $228.44
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 11 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $235.25 (3.0% Upside)
