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Evercore ISI Adds Apple (AAPL) to Tactical Outperform List
January 19, 2024 6:35 AM ESTEvercore ISI analyst Amit Daryanani reiterated an Outperform rating and $220.00 price target on Apple (NASDAQ: AAPL).
The analyst comments "Apple stock has underperformed over the last few weeks (YTD down 2% vs. S&P500 down 0.2%) driven by worries ranging from China demand to watch bans to regulatory risk. We think Apple should be able to report modest upside to Dec-qtr and guide March-qtr in the zip-code of street expectations gross-margins could be a wild card in march-qtr, street is modelling GMs flat in March q/q (historically AAPL has guide for... More
