Aapl Shares Turns Higher

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Aapl Shares Turns Higher

Apple (Aapl) Shares Turns Higher On Loop Capital Upgrade

Apple (AAPL) shares extended their gains on Monday and secured almost 2% when compared with Friday's close.

The recent upside in the Apple (AAPL) stock comes as Loop Capital has upgraded the stock's rating to 'Buy'. Additionally, they have set a $300 price target for the APPL stock, which is currently trading at around $220 - $230.

$300 - A New Price Target For Aapl

So, if we look at the new price target, that's almost an upside of an additional $70 from the current price levels. Loop Capital added that APPL will become a leading platform in the AI field as well. They also cited how AAPL has succeeded with its iPad and iPhones, and a similar story will unfold for AI.

According to the firm's analyst, AAPL has been solidifying its position in the field of AI. Given that the company already has a large customer base that uses its electronic devices, any AI initiatives from AAPL will also have a large customer base.

Back in May 2023, the firm downgraded the AAPL rating to 'Hold' as a reduction was seen in the production of iPhone models. Now, the company has once again changed the rating of AAPL to buy which is a sign of their optimism.

The firm believes that an increase in the iPhone 16 production will happen as customers will be driven by the excitement of using AI services.

They added that the company would have a few more years to solidify its position in the Gen AI field, similar to what we saw with the iPhone and iPod.

This improved position in the Gen AI field will also lead to some major stock gains for the AAPL stocks, similar to what we saw in the past.

Overall, the firm has maintained an upbeat look on the AAPL stock and has also set a new price target. This signifies that they are confident about the strategic positioning and the prospects of growth of AI.

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