CFRA Reiterates Buy Rating on Apple (AAPL) Following Event

Apple Stock Price Target Raised to $185

Analysts Cite Strong iPhone Demand, Services Growth

In a research note released today, CFRA analyst Angelo Zino reiterated a Buy rating on Apple (AAPL) and raised the firm's price target to $185 from $175. The analyst cited strong iPhone demand, continued growth in services revenue, and a positive outlook for the company's upcoming product launches as reasons for the upgrade.

Zino noted that Apple's iPhone 14 lineup has been well-received by consumers, with strong demand for the Pro models. The analyst also pointed to the company's continued growth in services revenue, which is now a major driver of Apple's overall profitability.

Looking ahead, Zino is optimistic about Apple's upcoming product launches, which include new Mac computers, iPads, and Apple Watches. The analyst believes that these new products will help Apple to continue to grow its market share and drive revenue growth.

Overall, Zino believes that Apple is well-positioned to continue to benefit from the growing demand for its products and services. The analyst raised the firm's price target to $185, which implies a potential upside of over 20% from the current share price.

Key Points

• CFRA reiterated a Buy rating on Apple (AAPL).
• The firm raised its price target to $185 from $175.
• Analysts cited strong iPhone demand, continued growth in services revenue, and a positive outlook for the company's upcoming product launches as reasons for the upgrade.