- The shares of Apple Inc (NASDAQ: AAPL) have received a $200 price target from JPMorgan. These are the details.
The shares of Apple Inc (NASDAQ: AAPL) have received a $200 price target from JPMorgan. And JPMorgan analyst Samik Chatterjee is maintaining an “Overweight” rating on the shares.
Chatterjee adjusted the rating while noting that despite the longevity and portfolio expansion, it is estimated that the Apple Payments revenue has only tracked $1 billion in recent years and it is on track to expand to $4 billion by 2026 – which represents only 5% of the total Services revenue.
But Chatterjee acknowledged that gaining share in the Payments market is known for being a marathon rather than a sprint. And an addressable market of $30 billion is on the horizon.
Going forward, Chatterjee sees many avenues of upside as Apple is continuing to bolster its portfolio and expand and penetrate the installed base. And Apple’s ecosystem is most comparable to PayPal with an addressable market of $110 trillion.
It’s also worth mentioning that the Apple (NASDAQ: AAPL) rating on TipRanks has a “Strong Buy” across a consensus of 27 analysts. And Chatterjee has been cited as having a high success rate.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
