Facing the AI-driven iPhone upgrade cycle challenge, MoffettNathanson covers Apple for the first time and gives a "Neutral" rating
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MoffettNathanson initiates coverage on Apple Inc. with a neutral rating and a target price of $211. Analysts point out that the AI-driven iPhone upgrade cycle faces challenges, including regulatory and geopolitical factors. In addition, the current high interest rates require higher growth rates to maintain a similar P/E ratio. Google's antitrust lawsuit poses potential risks to Apple. Despite analysts' forecasts generally exceeding market expectations, Apple's P/E ratio includes optimistic assumptions. Seeking Alpha rates it as "hold", while Wall Street analysts are generally optimistic
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