In a recent update, Citi analyst Atif Malik has revised his price target for Apple stock, reflecting ongoing challenges in the tech sector. According to the results published in the material, this adjustment comes amid rising costs that are impacting the company's profit margins.
Price Target Adjustment for Apple
Malik has lowered his price target for Apple from $330 to $315, primarily due to increased expenses associated with memory chips. Despite this downward revision, he continues to endorse a Buy rating on the stock, indicating confidence in Apple's long-term prospects.
Market Performance Comparison
Over the past year, Apple shares have faced headwinds as investor interest has shifted towards companies with a stronger focus on artificial intelligence, such as Nvidia and Microsoft. As a result, Apple’s stock has only seen an 11 percent increase in value over the last twelve months, which lags behind the S&P 500's 15 percent growth during the same period.
ASML's stock faced a dramatic decline following President Trump's tariff threats, contrasting with Apple's recent price target adjustment by Citi analyst Atif Malik. For more details, see ASML stock drop.
