Wall Street is seeing the positive in Apple, viewing the iPhone maker's better-than-expected results as a sign of its ability to deliver even in a tough macro.
Most Wall Street analysts like what they're seeing from Apple , viewing the iPhone maker's better-than-expected results as a sign of resilience and its continued ability to deliver even in a tough environment. Apple rose 2% in the premarket after posting earnings that beat expectations, driven by stronger-than-expected iPhone sales. Overall sales, however, fell for a second consecutive quarter. The stock's up about 28% year to date.
mountain Apple shares gain on earnings "While we can see some investors squirm about a 26x earnings multiple, we believe the resilience of the business proving out in the numbers currently as well as the early part of the pandemic will amply justify the reasons to pay a premium," Chatterjee wrote. Chatterjee has an overweight rating on Apple and a price target that implies upside of 14.6%.
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