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Apple’s stock rose about 0.5% in premarket trading Thursday, bouncing back after a four-day slide that followed a hardware launch event that failed to excite investors.
According to The Fly, Phillip Securities downgraded Apple from “Neutral” to “Reduce,” keeping its $200 price target, citing stretched valuations after the stock’s recent rally. The firm also noted near-term risks from tariffs, higher spending, and a lack of meaningful AI innovation.
On the other hand, firms including Bank of America, Rosenblatt, Melius Research, and Evercore ISI raised their price targets after Tuesday’s event, with updated estimates ranging from $241 to $290. JPMorgan and Citi said the launch met expectations, while Morgan Stanley described it as slightly more impressive than expected.
Investor skepticism largely stems from Apple’s slow adoption of artificial intelligence. The company has yet to roll out major AI features or deliver its long-awaited upgrade to Siri. Trade tariffs on China — Apple’s primary supply chain hub — have also weighed on iPhone sales.
Still, bullish analysts like Daniel Ives of Wedbush and Gene Munster of Deepwater Asset Management expect the new iPhone 17 Air to lift demand. Munster projects Apple could see its strongest iPhone sales growth since 2022 in fiscal year 2026.
On Stocktwits, retail sentiment remains strongly bullish (79/100), with unusually high message activity ahead of Thursday’s open. Year-to-date, Apple’s stock is down about 9.1%.
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