Apple's price target lowered amid market concerns

In the financial markets, several significant analyst calls were made on Friday, May 2, 2025, impacting the outlook for major tech companies. Bank of America reiterated its buy rating on Apple but adjusted its price target from $240 to $235 per share following the company's recent earnings report. Analysts expressed that, although investors wanted a deeper understanding of the effect tariffs and shifting consumer behaviors would have on Apple's profits and losses in the upcoming quarters, the overall tone from the company was seen as reassuring. This comes alongside other notable shifts in ratings, as Rosenblatt downgraded Apple to neutral and Jefferies moved to underperform in response to concerns over tariffs affecting Apple's iPad revenue. Moreover, similar movements were seen in companies like Walmart and Nvidia, indicating a broader trend of scrutiny among analysts regarding tech stocks in the current market landscape. The assessments reflect a cautious approach from investors as they navigate potential headwinds in consumer sentiment and economic conditions, reinforcing the idea that current evaluations of growth prospects may be less optimistic than before. Meanwhile, companies like Coinbase and Roku also received mixed ratings, which only adds to the cautious sentiment among tech investors as earnings results from prominent firms influence market expectations.