Even though the last few weeks have been rough on the stock price of Apple (NASDAQ: AAPL), the past year has been positive for the technology behemoth’s shares, which have recorded steady gains during this time, and experts predict more increases in the next 12 months.
As it happens, Apple has managed to retain a positive outlook in the face of multiple price hiccups in the past months, the latest of which saw it decline 0.54% on the day despite the company’s optimistic Q1 earnings report that has beaten Wall Street’s expectations.
Wall Street weighs in on AAPL stock
In this context, a group of 25 Wall Street analysis is cautiously bullish on the price of Apple stock for the next 12 months, rating it as a ‘moderate buy’ on the basis of 16 votes for a ‘buy,’ eight experts recommending to ‘hold,’ and only one ‘sell’ call, according to the TipRanks data on February 19.
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Meanwhile, the analysts have also offered 12-month price targets for Apple during the last three months, which see the AAPL stock increasing its price by 13.37% toward the average price of $206.68, with the lowest target at $158 (-13.33%) and the highest at $250 (+37.13%).
Apple stock price analysis
At press time, the price of Apple’s shares stood at $182.31, recording a 0.84% decline on the day, dropping 3.46% across the previous week, and losing 4.83% on its monthly chart, but nonetheless seeing an accumulated gain of 19.51% in the past year, according to the information obtained on February 19.
Indeed, the above action has recently printed a head and shoulders pattern, indicating a possible trend reversal from the previous increase and into a bearish mode, which is materializing at this moment, shortly after Berkshire Hathaway (NYSE: BRK.A) CEO Warren Buffett dumped nearly $2 billion in Apple shares.
Overall, AAPL is currently in a neutral long-term trend, only performing better than 54% of the other 32 stocks in the technology hardware, storage, and peripherals industry, with negative signs in the medium and short-term timeframes, trading near the lows of its last month’s range of $179.25 – $196.38.
On the other hand, it is also trading in the upper part of its 52-week range, demonstrating healthy liquidity with over 55 million traded shares per day on average and outperforming 65% of all other assets in the stock market, illustrating the need for careful research into any asset before investing.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
