Despite "Headline Risk," This Magnificent Seven Stock Still Has 45% Upside, According to 1 Wall Street Analyst.
There's no argument the "Magnificent Seven" stocks were among the market's best performers last year, and that trend has continued into 2024. Unfortunately, one member of this vaunted group has been in the spotlight but not in a good way. Last week, the U.S. Department of Justice filed an antitrust lawsuit against (NASDAQ: AAPL), alleging the company engaged in questionable practices to maintain a monopoly with its iPhone.
One analyst believes that while there are challenges ahead for Apple, the "headline risk" doesn't change the overall investing thesis.
In the wake of the filing, Wedbush analyst Dan Ives reiterated his outperform (buy) rating and $250 price target on Apple stock. That represents potential upside for investors of 45% compared to Friday's closing price.
Source Fool.com