---
title: "Prepare for the stock price rebound! Evercore says the market has exaggerated pessimism about Apple"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/216788594.md"
description: "Evercore analysts believe that the market's pessimism towards Apple has been exaggerated, and they suggest investors to prepare for a rebound in stock price. Apple's stock price rose over 1% on Monday to $231.3. Analyst Amit Daryanani believes that Apple has the ability to exceed market expectations and has given it a \"tactical outperformance\" rating with a target price of $250. He pointed out that there is strong upgrade demand in the U.S. market, partly driven by artificial intelligence. JP Morgan analysts are also optimistic about Apple, believing that the early weakness is only a temporary phenomenon"
datetime: "2024-10-14T22:26:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/216788594.md)
  - [en](https://longbridge.com/en/news/216788594.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/216788594.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/216788594.md) | [繁體中文](https://longbridge.com/zh-HK/news/216788594.md)


# Prepare for the stock price rebound! Evercore says the market has exaggerated pessimism about Apple

According to the Zhitong Finance and Economics APP, Apple (AAPL.US) stock has cooled down in recent weeks after a previous rise that nearly approached last month's historical closing high. However, analysts at Evercore believe that the market's pessimism towards Apple is exaggerated.

Ahead of Apple's announcement of its September quarterly financial report at the end of this month, Evercore advised investors to prepare for a rebound in stock prices, believing that Apple is capable of surpassing the lower market expectations and gave the stock a "tactical outperformance of the market" rating.

Amit Daryanani, an analyst at Evercore, wrote in the report: "Bearish investors are still concerned about the Chinese smartphone market, but we believe this risk is exaggerated and can be offset by the growth in developing markets and the strong upgrade cycle in the United States. Our research shows strong demand for upgrades in the U.S., partly driven by artificial intelligence (AI)."

Daryanani rates Apple stock as "outperforming the market" with a target price of $250. On Monday, Apple's stock rose over 1% to $231.3, while the S&P 500 index rose by 0.5%.

Daryanani is not the only analyst optimistic about Apple. Morgan Stanley analyst Samik Chatterjee wrote in a research report that based on the company's tracking data on Apple product supplies, delivery times for the more expensive Pro Max model have decreased, but less than in previous iPhone cycles, "which increasingly proves our view that the initial softness is just a temporary phenomenon."

Since Apple introduced its artificial intelligence "Apple Intelligence" in June this year, Apple's stock has sparked increasing controversy on Wall Street. The company's stock price has risen significantly in the following months, with market hopes for a new major upgrade cycle boosting the stock price. However, analysts also express concerns about whether artificial intelligence can significantly drive demand growth and when it will be realized.

Nevertheless, these concerns have not worried Evercore analysts, who are more focused on the long-term potential of the technology. Daryanani wrote: "The phased introduction of artificial intelligence is expected to extend the iPhone's upgrade cycle, as the release of new features and broader market coverage will drive strong growth in word-of-mouth marketing."

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