Barclays analyst Tim Long maintains $Apple (AAPL.US)$ with a sell rating, and maintains the target price at $184.
According to TipRanks data, the analyst has a success rate of 62.2% and a total average return of 13.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Apple (AAPL.US)$'s main analysts recently are as follows:
Post the fiscal Q4 announcement, it was noted that Apple's guide for the December quarter indicates a modest decrease following a satisfactory Q4. The company is projecting revenue growth for Q1 to be in the low to mid single digits on a year-over-year basis, which is slightly below market expectations. It's estimated that Q1 iPhone revenue will see a marginal increase of 1%, aligning with subdued supply chain observations and modest demand for the iPhone 16.
The firm has revised its projections for iPhone revenue, unit sales, and average selling prices - ASPs - for the years 2024-2026 downward. It was noted that the forward earnings multiple applied to the stock is at the upper end of the observed post-COVID range. The new estimates suggest 2024 iPhone revenue to be $200.9 billion compared to the previous $209.1 billion, 2025 revenue at $211.0 billion versus the earlier $226.5 billion estimate, and 2026 revenue forecasted at $223.9 billion down from $238.9 billion. Additionally, the unit forecast for 2024 has been adjusted to 220.2 million from 224.3 million with a reduced ASP, and similar downward revisions for 2025 and 2026 unit estimates and ASPs have been made.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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