Wall Street adjusts Apple price targets as earnings report nears
- Major banks, including Goldman Sachs, Wells Fargo, UBS, and Bank of America, have revised their price targets for Apple ahead of its earnings report.
- Concerns influencing these adjustments include anticipated losses from tariffs and the delayed rollout of Apple's AI features.
- Analysts predict a significant challenge for Apple in navigating the current economic landscape, leading to a cautious outlook.
In the United States, major banks have recently reduced their price targets for Apple Inc. ahead of its impending earnings report scheduled for May 1, 2025. Analysts express concerns over various factors affecting the tech giant, particularly tariffs and anticipated delays in its rollout of artificial intelligence features. On April 23, Goldman Sachs decreased its forecast to $256 from $259, citing current market focus on slower product revenue growth despite a robust ecosystem. Wells Fargo, while maintaining an 'overweight' status on Apple stock, adjusted its target to $245 down from $275, reflecting uncertainty amid macroeconomic factors. UBS lowered its target by $26 to $210 due to modest declines in iPhone revenue predictions amidst tariff announcements. On April 24, Bank of America updated its target to $240, forecasting a potential 17% upside, while adjusting revenue estimates upwards for the immediate quarters but projecting long-term declines. They emphasized the problematic AI rollout, which has seen multiple delays and adversely affects their optimistic revenue estimates for 2026. Overall, Apple stock has struggled significantly this year, dropping over 18% and underperforming against broader market trends. The prevailing sentiment among analysts indicates trepidation around Apple’s fiscal performance in this turbulent economic landscape.