After a solid year regarding the value gains to its stock with over 35% in the green, Apple (NASDAQ: AAPL) posted another significant milestone that hasn’t been achieved in over a decade.
In 2023, Apple Inc.’s iPhone surpassed Samsung Electronics Co. devices, claiming the title of the best-selling smartphone series. This marks the first time South Korea’s largest company has relinquished the top spot since 2010, as reported on January 17.
Apple reaped the rewards of compelling promotions that successfully prompted a transition towards premium devices. Despite a tepid response to the iPhone 15 in China, its largest international market, Apple still managed to increase shipments in 2023.
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The challenging market dynamics included Huawei Technologies Co.’s rising popularity and an expanding ban on government use, which contributed to declining sales.
Apple stock price analysis and predictions
At the time of press, AAPL stock was worth $183.63, following a decrease of 1.23% since the previous closure, while also declining by -0.16% over the last five trading sessions. This stock has lost -1.08% since the beginning of 2024.
Notably, Wall Street analysts’ average 12-month price objective for AAPL currently stands at $203.35, implying around 10.74% further upside compared to the current share price.
The stock has an average analyst rating of ‘Moderate Buy,’ based on 23 ‘Buy’ recommendations, 9 advised ‘Hold,’ and one suggested a ‘Sell.’
Forecasts suggest moderate optimism from analysts, with predictions going as high as $250, which is a 10.73% increase in stock worth, and the lowest prediction still spells out a decrease from its current price by -18.31%.
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