20% Upside Forecast For Apple Inc, According To Tigress Financial
Tigress Financial Partners (investment bank in NY) has issued a 'Strong Buy' rating for the Apple Inc (AAPL) stock. According to the forecast made by the NY-based investment bank, there's a chance of a 20% upside for the tech company.
Tigress Financial Partners has also raised the forecast target price for Apple from $210 to $225, which tells us that the investment bank is highly bullish on the stock.
Apple Inc (APPL) Trading AT $185.80
For now, Apple shares are trading around the $185.80 level and are down 0.7% for the day. But if we look at the forecast made by the Tigress Financial Partners, there's a chance that the tech stock could add an additional $40 to its stock.
The reason behind the upgrade of the target price is acceleration of growth in the Apple company. In addition, the investment bank also cited how Apple has improved its revenue in Asia and other emerging markets.
In addition, Apple has also launched a new product dubbed 'Vision Pro' that will allow Apple to delve into the virtual reality world. Similarly, the services revenue of Apple is also growing and will likely lead to long-term gains for the company.
Another thing that supports APPL is its commitment to delivering consistent dividend increases to its shareholders. Just recently, Apple announced a dividend increase of 4% & committed $90 billion for the share repurchase.
Based on all the factors, it becomes clear that an upside in Apple is highly likely, which is the major reason why the investment bank has set a target price of around $225.
If investors buy the APPL stock at the current levels, it would mean an upside of 20% if the APPL manages to indeed hit the target of $225.
At the same time, we also need to consider that global economic conditions are not as good as they used to be a few years ago. That's a factor that could hinder the growth of Apple and may make it difficult to reach the $225 target.