Analysts Are Increasing Price Targets of These 5 Stocks

03. Apple Inc. (NASDAQ:AAPL)

Upside Potential: 21%

Based in Cupertino, California, Apple Inc. (NASDAQ:AAPL) is widely recognized as one of the leading smartphone manufacturers in the market, renowned for its flagship product, the iPhone. It holds the distinction of being the largest technology company worldwide in terms of revenue. In 2022, the company generated a remarkable revenue of $394.3 billion.

Tigress Financial Partners has reaffirmed its Strong Buy rating on Apple Inc. (NASDAQ:AAPL) and has raised its target price from $210 to $225 in a note to clients on June 23. According to Tigress analysts, the increase in the price target for the technology giant is due to the expectation of renewed growth in the near future, primarily driven by progress in emerging markets and Asia. The analysts also highlighted the launch of Apple Inc. (NASDAQ:AAPL) new Vision Pro spatial computer, which they believe marks the beginning of a significant expansion of the Apple ecosystem. They further expressed confidence that the continuous growth of Apple’s Services revenue will lead to long-term improvements in business performance and increased value for shareholders. The analysts stated, “AAPL continues to prioritize enhancing shareholder returns through regular dividend increases. They have recently announced a 4% dividend increase and have authorized an additional $90 billion for share repurchases. We believe the stock has substantial upside potential, and our 12-month target price of $225 indicates a possible return of over 20% from the current levels.” Apple Inc. (NASDAQ:AAPL) closing price on June 23 was $186.68; thus, with a new target price of $225, it has an upside potential of 21%.