Can the iPhone 15 Help Reverse Apple's Sales Decline?
Shares of (NASDAQ: AAPL) have been under pressure of late on account of multiple factors, such as reports of a ban by Chinese state-owned enterprises on the use of iPhones by their employees, weak consumer demand for smartphones, and rumors that the iPhone maker may run into supply chain challenges that could force it to reduce the number of smartphones it builds this year.
And now, Wall Street doesn't seem to be impressed by Apple's latest iPhone 15 lineup, which was revealed on Sept. 12. Apple stock retreated nearly 2% after the launch event. Though shares of the tech giant are up 35% so far in 2023, they have pulled back nearly 10% since the beginning of August.
With all the headwinds that Apple is facing right now, should investors consider booking their profits before the stock slides further? Let's find out.
Source Fool.com
Apple Inc. Stock
Currently there is a rather positive sentiment for Apple Inc. with 147 Buy predictions and 17 Sell predictions.
With a target price of 224 € there is a slightly positive potential of 12.43% for Apple Inc. compared to the current price of 199.24 €.
