Stocks
Analysts Divided on Apple Stock After iPhone Duo Showcase
Apple's recent iPhone showcase, which included the highly anticipated iPhone Duo, sent its stock soaring by 3.56% in the subsequent regular session.
However, Wall Street analysts were divided in their reactions to the event, with five experts issuing 'Buy' recommendations and four rating Apple shares as 'Neutral,' while one analyst even predicted a 24.98% plunge to $245.
The most bullish prediction came from TD Cowen's Krish Sankar, who set a price target of $400 for Apple stock, anticipating a 22.49% rally from the latest close at $326.57.
Other analysts were more cautious in their assessments, with Bank of America estimating that lower-than-expected prices could help with sales but negatively impact margins.