Baird Boosts Apple Price Target to $330
Baird analyst William Power raised the price target on Apple (NASDAQ: AAPL) to $330 (from $310) while maintaining an Outperform rating.
“Port in the storm (of software and mega-cap tech capex). We expect solid FQ3 results, driven by strong iPhone growth and steady services trends.
Memory pricing remains a daunting headwind, though price increases should ease the pressure.
Valuation looks rich relative to past trends, suggesting much may be priced in, but we expect the strong free cash flow, upcoming product cycle and early positive comments on Siri AI to support the stock.
We also think Street estimates over the NTM are set up well, with potential for further upside.”
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