Many investors are closely watching Apple (NASDAQ:AAPL) stock today after the company warned yesterday that it is encountering a number of hurdles, including supply chain issues. These problems could lower the tech giant’s revenue during the current quarter by $4 billion to $8 billion, explained CFO Luca Maestri during its Q1 earnings call.
Despite the news, three Wall Street analysts remained largely upbeat on AAPL stock.
Calling Apple’s fiscal second-quarter earnings report “very impressive,” Wedbush analyst Dan Ives wrote that the demand for the company’s products remains strong. He expects concerns about Apple’s supply chain issues to diminish later in the year. The analyst kept an “outperform” rating and a $200 price target on Apple.
Analysts Weigh In on AAPL Stock
Also weighing in with an upbeat note today was Morgan Stanley analyst Katy Huberty. Contending that the company’s “ecosystem” is still “remarkably stable,” the analyst nevertheless trimmed her price target on the shares to $195 from $210.
Meanwhile, Piper Sandler’s Harsh Kumar also remained bullish on Apple’s “ecosystem.” Moreover, he thinks that the firm’s results indicate that it continues to benefit from “strong customer loyalty to both products and services.” Kumar kept a $195 price target and an “overweight” rating on the shares.
On a more bearish note, Seeking Alpha columnist Bill Maurer stated that the owners of AAPL stock are displeased with Apple’s dividend, which, according to Maurer, is “rather weak.”
On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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