#1 - Apple (NASDAQ:AAPL)
Apple Inc. (NASDAQ: AAPL) remains one of Berkshire Hathaway’s largest holdings. The company embodies many of what Buffett looks for in a long-term investment. Specifically, the company has a strong brand with a loyal customer base. Second, the company is a cash-generating machine. The company generates about $1 billion in cash every single day.
About 50% of that cash comes from iPhone sales. In September 2024, Apple launched its iPhone 16. This will be the first phone to include “Apple Intelligence” the company’s initial artificial intelligence (AI) offering. The bullish argument is that approximately 20% of iPhone owners haven’t upgraded their device in over three years. In recent years, the concern is that Apple’s new iPhones haven’t had a “wow” factor. But Apple Intelligence may spark an unprecedented upgrade cycle.
The Apple analyst forecasts on MarketBeat have a consensus forecast of $239.17 for AAPL stock. However, the price targets have been moving higher in September, with Dan Ives from Wedbush being among the most bullish with a $285 price target.
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
- $226.47
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 10 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $239.17 (5.6% Upside)
