HSBC Upgrades Apple to Buy, Target Price at $366 as Stock Surges 19.98% in 15 Trading Days

AAPL-2.34%
According to MarketWatch, HSBC analyst Nicolas Cote-Colisson upgraded Apple (AAPL-US) to buy from hold on July 17, raising the price target from $260 to $366, implying about 10% upside. The stock has surged 19.98% over the past 15 trading days, outpacing the S&P 500 index which gained only 1.91% in the same period. Cote-Colisson cited Apple's strong product lineup and AI capabilities as drivers of hardware revenue growth. He noted that Apple's capital expenditure accounts for only 2.5% of estimated revenue, compared to 39% for hyperscale cloud providers, allowing it to avoid excessive capex concerns.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments