Monness Believes Apple (AAPL) Still Has Room to Grow

In a report released today, Brian White from Monness maintained a Buy rating on Apple (AAPL), with a price target of $144.00. The company’s shares closed last Friday at $124.81, close to its 52-week high of $128.79.

According to TipRanks.com, White is a top 25 analyst with an average return of 32.8% and a 78.8% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Slack Technologies, and Salesforce.

Apple has an analyst consensus of Moderate Buy, with a price target consensus of $418.87, a 232.4% upside from current levels. In a report issued on August 18, Wedbush also maintained a Buy rating on the stock with a $515.00 price target.

Based on Apple’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $59.69 billion and net profit of $11.25 billion. In comparison, last year the company earned revenue of $53.81 billion and had a net profit of $10.04 billion.

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Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.

SOURCE: https://www.w24news.com