HSBC Raises Apple Price Target to $260
HSBC analyst Nicolas Cote-Colisson raised the price target on Apple (NASDAQ: AAPL) to $260.00 (from $250.00) while maintaining a Hold rating.
“Hold maintained, TP raised to USD260 from USD250: We raise our TP for Apple on the basis of higher 26e EPS applied on our target non-GAAP 26e PE of 28x, leading to a new TP of USD260, implying 4.2% downside.
Shares are trading close to historical highs but reflect the stability of the business model. Also, capital allocation is still in favour of share buybacks (read page 3).
An upside risk is faster-than-expected progress in implementing innovative AI applications, and a downside risk is incremental pressure on margins from higher memory costs and chip supply (page 3).”
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