Apple To $350? Here Are 10 Top Analyst Forecasts For Tuesday
Key takeaways
- Apple’s valuation outlook has been slightly tightened by Morgan Stanley, trimming the target to $350.
- Previous target $355
- Apple shares closed $338.32
What happened
(NASDAQ: AAPL) from $355 to $350 while keeping an Overweight rating.
Why it matters
The cut signals a modest shift in the firm’s outlook, suggesting it sees less upside potential for Apple’s stock in the near future.
Short-term and longer-term
Short-term. Over the next few days, Apple’s stock could see a modest correction as traders digest the new target.
Longer-term. For investors looking beyond the short term, the target adjustment is a small tweak in a broader positive view of Apple’s business.
Words on this card
- price target
- A forecasted price level that analysts believe a stock could reach in the future.
- Overweight
- A recommendation that a stock should be held more heavily than the broader market.
- Guidance
- What a company says it expects for future sales or profits — a forecast from the company, not a guarantee.