Apple Stock: Buy, Sell, or Hold?
With a monster gain in 2023 that exceeds the Nasdaq Composite index, (NASDAQ: AAPL) is again showing that it's a favorite among the investment community. And this is much needed, particularly after the stock lost an eye-watering 27% of its value in 2022. But now, with Apple shares getting close to an all-time high again, the question is this: Should investors buy, sell, or hold this leading consumer discretionary stock?
Macro headwinds have been negatively impacting Apple in recent quarters. The company's revenue totaled $383 billion in fiscal 2023, which was down 2.8% year over year. This was the first annual sales decline since fiscal 2019. Yet, investors seem to have shrugged off this news. The stock has climbed about 7% since the announcement.
In the latest quarter, all product categories showed revenue drops, except for the iPhone. But while it was encouraging that the company's flagship product registered growth, with management even saying that iPhone 15 sales were doing better than iPhone 14 last year, CFO Luca Maestri said Apple's overall revenue in the current quarter will be "similar to last year."
Source Fool.com
Apple Inc. Stock
Currently there is a rather positive sentiment for Apple Inc. with 105 Buy predictions and 8 Sell predictions.
With a target price of 208 € there is a slightly positive potential of 3.48% for Apple Inc. compared to the current price of 201.0 €.
