Citi has reiterated its Buy rating for Apple (NASDAQ: AAPL), with the price target sitting at $240 for the next 12 months.
Apple Inc (NASDAQ:AAPL, ETR:APC) shares are currently priced at an attractive entry point for investors seeking to gain exposure to the technology giant, analysts at Bank of America believe. “Apple shares are down 20% in the year to date versus the S&P 500 index up 1%, a divergence gap that we argue will close over time,” analysts wrote in a note discussing the bull and bear cases for Apple.
CNBC's Deirdre Bosa joins 'Money Movers' to discuss the AI battle for device default distribution.
Apple reportedly filed an appeal against an order from the European Union's antitrust regulator that requires the company to make its iOS operating system more compatible with other companies' products. The company filed its appeal Friday (May 30) at the EU's General Court in Luxembourg, The Wall Street Journal (WSJ) reported Monday (June 2).
Apple has appealed a European Union order requiring it to make devices like the iPhone and iPad more interoperable with products offered by rival tech companies, a source familiar with the situation confirmed Monday.
While a much-awaited AI update has been delayed at Apple, Citi analysts remain bullish on the company's competitive positioning.
A company spokesperson called the rules deeply flawed and added that the EU order obliges Apple to share sensitive information with rivals and poses security risks to European customers.
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Apple Inc. NASDAQ: AAPL has always been a company that measures twice and cuts once. The fact that Apple was late to the AI party isn't surprising.
For more than a decade, Apple (AAPL 0.76%) was the largest company in the world by market capitalization. And while it still has a market cap of $3 trillion as of this writing, it has been surpassed by Microsoft and Nvidia in the last few years as cloud computing and artificial intelligence (AI) computer chips take the market by storm.
Warren Buffett manages the vast majority of Berkshire Hathaway's stock portfolio, and the company made interesting capital allocation decisions concerning Apple (AAPL 0.76%) and Domino's Pizza (DPZ -0.23%) in the first quarter.
Apple stock is down over 20% from its all-time high, underperforming peers, but may be poised for a rebound based on historical mean reversion. Investor concerns center around trade war risks, but Apple's history as a capable supply chain manager and its strong services business provide resilience. Buying Apple during periods of weakness—possibly even with leverage, when done right—has historically led to outsized long-term returns.