#1 - Apple (NASDAQ:AAPL)
Apple (NASDAQ:AAPL) is the only one of the FAANG stocks that I’m including on this list. But to be honest, they wouldn’t have made the cut a month ago. Even as a true believer, the stock was looking a little frothy. However, the company’s recent 4-for-1 stock split combined with the recent market dip leaves me no choice. The stock is down 16% since September 1, and that gives investors a compelling reason to take a bite out of the stock.
Yes, the company’s Apple One bundle announcement is looking a little underwhelming. Time will tell. People thought the iPhone 11 was dead in the water. And the same was said about the Apple Watch. So, let’s give that some time. Apple is still relatively new to the services game.
And not all analysts were sanguine about Apple. Needham analyst Laura Martin not only reiterated her buy rating but increased her price target from $112.50 to $140. If AAPL stock were to hit that mark, it would be a nifty 24% gain for investors.
For me, this remains about the iPhone. And Apple will be releasing a new version of its iconic device later this year. Plus the company is announcing plans to produce custom chips for some Mac computers.
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)
