For years, Apple (NASDAQ: AAPL) has stood out as one of the most reliable stocks for investors, consistently delivering impressive returns. This can be attributed to the company’s unwavering commitment to innovation, coupled with its ability to anticipate and fulfill consumer needs.
In this light, Finbold conversed with Google Bard on Friday, June 2, asking the AI tool about its prediction of where it thinks Apple’s stock price could stand at the end of 2023. In fact, the chatbot offered notably bullish price predictions for the world’s largest company and also cited factors that could contribute to the price surge.
To be more specific, Bard said it agrees with Goldman Sachs’s price target of $199 for AAPL, which implies a potential upside of around 30% from the stock’s current level.
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“I agree with Goldman Sachs’ prediction that Apple’s stock price could reach $199 by the end of 2023. I believe that Apple is well-positioned for continued growth in the coming years. The company has a strong track record of innovation and is well-positioned to benefit from the growth of the global economy.”
– Google Bard said in the response.
Why does Bard think Apple stock price will rise?
Further in its response, the impressive generative AI bot provided a list of factors that it thinks could propel AAPL price in the second half of the year.
According to Bard, “continued growth in earnings” is one of the primary drivers for the tech giant’s shares, citing the company’s 11% year-over-year growth for fiscal 2022.
“I believe that Apple will be able to continue to grow its earnings in the coming years, which will drive up its stock price.”
– the AI tool added.
Moreover, Bard said Apple is expected to roll out a number of new products in 2023, including new iPhones, iPads, and MacBooks. If these products are well-received by consumers, they could drive up Apple’s stock price, the bot said. Conversely, bad consumer feedback could hurt the company’s share price.
Finally, Bard also mentioned several factors that could put pressure on AAPL by the end of 2023, including intensifying competition from other tech companies and economic challenges.
“If the economy is doing poorly, consumers are less likely to spend money, which could hurt Apple’s stock price.”
– it said.
Apple stock price analysis
At press time, AAPL stood at $180.09, up 1.6% on the day. Over the past month, the company’s shares gained more than 5.8%.
Year-to-date, Apple’s stock price rose by over 38%, driven by strong earnings and the broader market rebound.
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