#1 - Apple (NASDAQ:AAPL)
Apple Inc. (NASDAQ: AAPL) remains one of Berkshire Hathaway’s largest holdings. The company embodies much of what Buffett looks for in a long-term investment. First, it has a strong brand with a loyal customer base. Second, it is a cash-generating machine - to the tune of about $1 billion every single day.
About 50% of that cash comes from iPhone sales. But approximately 20% of iPhone owners haven’t upgraded their devices in over three years, raising concerns that recent iPhone versions haven’t had a “wow” factor. In September 2024, Apple launched its iPhone 16. This is the first phone to include “Apple Intelligence,” the company’s initial artificial intelligence (AI) offering. The bullish argument for the stock is that Apple Intelligence may be what sparks 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
- $232.29
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 11 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $235.25 (1.3% Upside)
