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Wall Street sets Apple stock price for the next 12 months

Wall Street sets Apple stock price for the next 12 months

Apple (NASDAQ: AAPL) continues its post-earnings losing streak after the company reported that revenue is sliding and hardware sales drop.

This could be a short-term pain, however, as stock market analysts across Wall Street have a target price above $200 for the next 12 months.

The average analyst target price sees a 16% gain

Analyst consensus at TipRanks is a ‘moderate buy’ with an average target price of $208 for the next 12 months. That’s 16% above the current price of $178 per share.

TipRanks analyst price target. Source: Interactive Brokers Fundamentals Explorer

The Q2 earnings report was the reason why some analysts were skeptical. D.A. Davidson analysts lowered their target price on Apple stock to $180 from $185, while keeping the neutral rating.

KeyBanc’s Brandon Nispel wrote:

“We fear the U.S. upgrade cycle is coming to a halt, upgrade rates are at record lows, and likely to result in weak Americas revenue.”

Despite that, Nispel kept an overweight rating on the Apple stock with a target price of $200.

Most other analysts have reiterated their ‘buy’ or ‘overweight’ ratings this month, with target prices ranging from $167 to $235.

Refinitiv analyst ratings. Source: Interactive Brokers Fundamentals Explorer

AAPL stock technical analysis

After getting close to $200, which is a major resistance point, the stock price dropped out of the ascending channel.

AAPL now trades near the 100-day simple moving average and near the $175 price level, which is the support for now.

The price could attempt to move back to $200 if the $175 level holds. Otherwise, $155 is the next level to watch.

AAPL stock price daily price chart. Source:

Apple has returned 42% to investors year to date, outperforming the S&P 500’s 17% return.

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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.

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