- The shares of Apple (AAPL) recently received a $170 price target. These are the details.
The shares of Apple (AAPL) recently received a $170 price target.
Price target: $170
Rating: Buy
Analyst firm: Needham
Needham analysts reduced their 2023 EPS view to $6.07 from $6.34 on Apple due to weak macroeconomic global consumer demand trends, supply chain shortages, and growing geopolitical pressures between the U.S. and China – which could cause weaker iPhone demand in China. But the analysts pointed out that these weak core fundamentals will accelerate the development of a connected TV (CTV) advertising revenue stream because of its +70% gross profit margins and best-in-class demographics.
