Analysts mostly raised the Apple price target after the company slightly beat the soft Wall Street expectations.
The 10 analysts that announced a new Apple price target have a mean price target of $186.2. All ten analysts raised the price target for the AAPL stock.
Here are 10 analysts’ price targets for Apple AAPL stock after the release of the first quarter 2023 financial results (second-fiscal quarter earnings) :
DA Davidson Reiterated AAPL at Buy and raised the price target from $173 to $193.
Canaccord Genuity Reiterated AAPL at Buy and raised the price target from $180 to $185.
Monness Crespi & Hardt Reiterated AAPL at Buy and raised the price target from $174 to $188.
Morgan Stanley maintains AAPL at Overweight and raises the price target from $180 to $185.
B of A Securities maintains AAPL at Neutral and raises the price target from $173 to $176.
Needham maintains AAPL at Buy and raises the price target from $170 to $195.
Piper Sandler maintains AAPL at Overweight and cuts the price target from $195 to $180.
Deutsche Bank maintains Apple at Buy and raises the price target from $170 to $180.
Atlantic Equities maintains AAPL at Overweight and raises the price target from $180 to $200.
Keybanc maintains Apple at Overweight and raises the price target from $177 to $180. (5-5-2023)
Here are Apple second fiscal quarter earnings for 2023
Apple Earnings Per Share came in at $1.52 / share topping the analyst’s expectations of $1.43.
The Revenue reported at $94.84 billion slightly below the Wall Street forecast of $92.96 billion. That was the second consecutive quarterly revenue decline.
The iPhone revenue came in at $51.33 billion above the consensus estimates of $48.84.
Mac revenue came at $7.17 billion well below the forecasts of $7.80 billion.
The services sector sales hit a record high at $21.91 billion but missed the analysts’ expectations of $20.97 billion.
Apple appeased analysts and investors by raising its dividend and announcing a $90 billion buyback program.
Find all the Apple price targets by the best Wall Street analysts.
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).