Apple (NASDAQ: AAPL) continues its post-earnings losing streak after the company reported that revenue is sliding and hardware sales drop.

This could be a short-term pain, however, as stock market analysts across Wall Street have a target price above $200 for the next 12 months.

The average analyst target price sees a 16% gain

Analyst consensus at TipRanks is a ‘moderate buy’ with an average target price of $208 for the next 12 months. That’s 16% above the current price of $178 per share.

TipRanks analyst price target. Source: Interactive Brokers Fundamentals Explorer

The Q2 earnings report was the reason why some analysts were skeptical. D.A. Davidson analysts lowered their target price on Apple stock to $180 from $185, while keeping the neutral rating.

KeyBanc’s Brandon Nispel wrote:

“We fear the U.S. upgrade cycle is coming to a halt, upgrade rates are at record lows, and likely to result in weak Americas revenue.”

Despite that, Nispel kept an overweight rating on the Apple stock with a target price of $200.

Most other analysts have reiterated their ‘buy’ or ‘overweight’ ratings this month, with target prices ranging from $167 to $235.

Refinitiv analyst ratings. Source: Interactive Brokers Fundamentals Explorer

AAPL stock technical analysis

After getting close to $200, which is a major resistance point, the stock price dropped out of the ascending channel.

AAPL now trades near the 100-day simple moving average and near the $175 price level, which is the support for now.

The price could attempt to move back to $200 if the $175 level holds. Otherwise, $155 is the next level to watch.

READ MORE -  Beyond Meat (BYND) Skyrockets on Strong Q4 Earnings - Is it Time to Invest?

AAPL stock price daily price chart. Source:

Apple has returned 42% to investors year to date, outperforming the S&P 500’s 17% return.

Buy stocks now with Interactive Brokers – the most advanced investment platform

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Wall Street sets Apple stock price for the next 12 months appeared first on Finbold.

Avatar photo
Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.