Bernstein analyst Toni Sacconaghi has raised his price target for Apple Inc. (NASDAQ: AAPL) from $240 to $260, citing the company’s strong fundamentals and continued growth trajectory.
In his comments, Sacconaghi emphasized Apple’s status as a “quality compounder” driven by mid-single-digit revenue growth, improving profit margins, disciplined capital returns, and double-digit EPS growth.
He further highlighted Apple’s growing position as a platform company, with over 2.3 billion devices and nearly one billion unique users—a user base he describes as demographically attractive.
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However, Sacconaghi also tempered his optimism with caution, pointing to the stock’s historically high valuation levels and a distinct seasonal trading pattern. He noted that the upcoming iPhone 16 cycle appears lackluster and could lead to investor disappointment.
His recommendation: wait for the stock to dip to $220 or below or consider adding to positions between February and April when seasonal patterns could provide a more favorable entry point. Sacconaghi’s long-term valuation model places Apple’s FY26 EPS at $9 with a 32x-33x earnings multiple, suggesting a potential upside to $290 or more.
In contrast, UBS analyst David Vogt maintained a neutral stance, keeping his price target unchanged at $236 on January 2. Vogt’s caution reflects the belief that while Apple remains fundamentally strong, the current price does not present an ideal risk-reward setup.
AAPL technical analysis
Apple’s stock closed on Thursday at $243.85, down $6.57 (-2.62%) for the day. This places the stock near the lower end of its recent trading range of $241.25 to $260.10—a notably wide spread.
The support zone between $237.75 and $241.52 is expected to act as a cushion for further downward movement, though the stock’s current position near its 52-week highs suggests that it has been moving largely in line with the broader market, as the S&P 500 also trades near the top of its range.
Technical analysts point out that despite its recent dip, Apple’s price action has been too volatile to establish a clear entry or exit point. The lack of a stable consolidation phase adds uncertainty, making it prudent for investors to wait for more defined patterns.
Resistance looms between $249.87 and $259.03—a range influenced by several trend lines and moving averages across various time frames. A break above this zone could signal a bullish continuation, but failure to do so may reinforce the case for further sideways movement or a correction.
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