Apple Inc. (NASDAQ:AAPL) shares are rising Thursday.
Goldman Sachs reaffirmed its Buy call as investors may be seeking shelter in the stock while other tech names fall. Here’s what you should know.
Apple stock is showing upward movement. Why is AAPL stock trading higher?
Apple Stock Rises After Goldman Sachs Reiterates Buy Goldman Sachs reaffirmed its Buy rating on Apple on Thursday and applauded the company’s recent product unveilings. The stock may also be drawing investors who want shelter while tech worries grow.
The firm expects Apple’s sales to keep growing. Its reasons: price increases spread across the lineup, plus updated versions of the MacBook, iMac and iPad that run on the M6 and A20 Pro chips, CNBC reported.
Goldman also thinks the products will help Apple hold its ground against competitors. Two problems could slow Apple in the near term: tight supply and soft markets for PCs and tablets.
Goldman says a “favorable premium mix,” meaning buyers choosing pricier products, should absorb the blow. 03, below where the shares trade now.
Recent calls have varied. JPMorgan kept an Overweight rating and raised its target to $360 on Oct.
12. Loop Capital cut its rating on Apple to Hold on Oct.
20 and lowered its target to $330. MoffettNathanson stayed at Neutral and trimmed its target to $283 the same day.
Apple Stock Hovers Near its High Ahead of Earnings Apple trades at roughly $349, a little below its Oct. 73, which is both its 52-week high and its all-time high.
42 on Jan. 20.
That position near a record may be part of the draw. Investors tend to treat Apple as a safe haven when concerns about technology stocks rise.
With several tech names getting hit, Apple may be gaining as money moves toward it. Apple’s fiscal fourth-quarter report arrives Monday, Nov.
2, once trading ends. 38 billion of revenue.
65 billion. 11 at the time of publication on Thursday.
73, according to Benzinga Pro.
