Piper Sandler raises Apple target price on promise of AI

Investment firm Piper Sandler says the market is right to be excited by Apple Intelligence, and also that it sees a return to iPhone growth in the key market of China.Renders of a possible designs for the iPhone 16 rangeBased on both AI and China, Wedbush has said it expects a 'monumental' and 'massive upgrade super cycle' for the forthcoming iPhone 16 range. Piper Sandler's Matt Farrell, taking over from Harsh Kumar, predicts much the same, and says that excitement is warranted, yet it's also being more cautious.That's because it says since Apple's stock is up over 30% since April 2024, 'we feel like a lot of good news is already priced into the stock.' Therefore it's keeping its Apple rating Neutral, although it's also raising the price target from $190 to $225. Continue Reading on AppleInsider | Discuss on our Forums