1 Wall Street Analyst Thinks Apple Stock Is Going to $273. Is It a Buy?
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Morgan Stanley analyst Erik Woodring maintains an overweight rating on Apple (AAPL), projecting a 15% upside from its current price. Despite a 22% year-to-date increase, concerns linger about the impact of artificial intelligence (AI) on iPhone sales. A CNET survey indicates users prioritize battery life over AI features, raising doubts about whether AI will significantly boost sales. While fiscal 2025 sales are expected to grow by 6%, long-term earnings growth of 10% may not justify Apple's high P/E ratio of 38. Investors are advised to wait for a pullback or evidence of AI-driven sales growth before buying Apple stock.
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