Apple (AAPL) PT Raised to $225 at Piper Sandler

Piper Sandler analyst Matt Farrell raised the price target on Apple (NASDAQ: AAPL) to $225.00 (from $190.00) while maintaining a Neutral rating.

The analyst commented: "Since early April, Apple is up over 30% (compared to S&P500 up over 5%), on the back of 1) Apple Intelligence excitement and 2) a potential bounce back in iPhone shipments in China. From our perspective, the excitement is warranted, as AI could be a needle mover for upgrades. In addition, a return to growth in iPhone sales in China could create a tailwind as well in the second half. However, given the current valuation (~32x NTM consensus EPS) and the growing risk of a consumer spending headwind, we feel like a lot of good news is already priced into the stock. We reiterate our Neutral rating but raise our PT to $225 from $190."

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