Apple (AAPL) stock has been on a tear in recent months, and analysts believe that the company's shares could continue to rise in the coming year. In a recent article, Oppenheimer analyst Andrew Ubben reiterated his "outperform" rating on Apple stock and set a price target of $210, which represents a potential upside of 37% from the current price.
Ubben believes that Apple is well-positioned for continued growth in the years to come. The company is expected to benefit from strong demand for its iPhone, iPad, and Mac products. In addition, Apple is expanding its services business, which is expected to generate significant revenue growth in the coming years.
Ubben also noted that Apple has a strong balance sheet and is returning capital to shareholders through share repurchases and dividends. These factors make Apple stock an attractive investment for long-term investors.
Other factors that could drive Apple stock higher in the coming year include:
The release of new products, such as the iPhone 14 and the Apple Watch Series 8.
The growth of Apple's services business.
The expansion of Apple's ecosystem into new markets, such as wearables and healthcare.
Overall, the outlook for Apple stock is positive. The company is well-positioned for continued growth in the years to come, and its shares could soar 37% in the next year.
Here are some additional thoughts on Apple stock:
The company has a strong track record of innovation.
Apple's products are well-designed and user-friendly.
The company has a loyal customer base.
Apple is a global leader in the technology industry.
Given these factors, I believe that Apple stock is a good investment for the long term. However, it is important to do your own research before making any investment decisions.