Apple Inc.: Analyst Predictions for 2023
High Expectations for Apple's Future Performance
Analysts are bullish about Apple's prospects in 2023, with an average price target of $$163.
According to data compiled by Refinitiv, 28 analysts have issued 12-month price targets for Apple's stock, with an average target of $$163. This represents a potential upside of over 10% from the current market price of $$148.
Positive Growth Indicators
Several factors are contributing to the positive outlook for Apple. The company's strong product pipeline, including the upcoming release of the iPhone 15, is expected to drive revenue growth. Additionally, Apple's services business, which includes Apple Music, iCloud, and the App Store, continues to grow rapidly.
Past Performance Suggests Future Success
Apple's historical performance also supports analysts' optimism. Between March 1, 2018, and March 1, 2023, the company's closing stock price increased from $$43.75 to $$148. This remarkable growth demonstrates the company's ability to generate shareholder value over the long term.
Short-Term Price Targets Indicate Continued Growth
In the short term, analysts are also forecasting positive returns for Apple stock. The average price target of 30 analysts for the upcoming year is $$158, suggesting a potential upside of over 6%. This indicates that analysts believe Apple's growth trajectory will continue in the coming months.
Overall, analysts are highly positive about Apple's future prospects due to its strong product lineup, expanding services business, and historical performance. Investors should consider these predictions when making investment decisions related to Apple Inc.
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