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Apple Inc. (NASDAQ:AAPL) – Citi bullish on Apple, comments on dividend, new products and market value

  • City analyst Jim Suva saw “several positive drivers” for Apple Inc. (NASDAQ: AAPL) products and services despite geopolitical risks and consumer concerns.
  • Suva saw the iPhone maker declare an $80-90 billion buyout while increasing its dividend by 5-10% in second-quarter results. Apple still had more than $200 billion in cash on the balance sheet and authority to buy up to $315 billion in stock.
  • While supply chain headwinds are expected to persist, Apple’s demand is driven by a shift in the mix from low-cost Android phones to more midrange and high-end products.
  • Read also : Here’s how analysts see Apple’s latest products and services
  • He snubbed Apple’s news about production cuts, given that Apple tends to exceed build estimates to ensure sufficient supply.
  • He saw news of the production cuts as a headline likely to provide a short-term stock pullback that investors could use as a buying opportunity for Apple.
  • He thinks Apple’s current market value doesn’t reflect launches of new product categories like virtual reality headsets and an Apple Car in 2025.
  • Suva maintained a buy rating on Apple with a price target of $200 (up 20.7%).
  • Price action: AAPL shares traded up 1% at $167.40 when last checked on Tuesday.
  • photo by 13howard bouchevereau via Unsplash

Latest reviews for AAPL

Date Solidify Stock Since For
March 2022 Barclays Maintains Equal weight
February 2022 Financial Tigress Maintains strong purchase
Jan 2022 Swiss credit Maintains Neutral

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