What to watch: Apple, Microsoft and Gildan

What to watch: Apple, Microsoft and Gildan
What to watch: Apple, Microsoft and Gildan

(Photo: The Canadian Press)

What to do with titles from Apple, Microsoft and Gildan? Here are some analyst recommendations likely to move prices soon. Note: the author may have an opinion completely different from that expressed.

Apple (AAPL, US$189.98): with the iPhone 16 on the horizon, Wedbush analyst raises his target price

Based on the latest information from the supply chain in Asia, Daniel Ives, analyst at Wedbush, sees more and more signs of stabilization in demand for the iPhone, and this constitutes a strong indicator interesting at the dawn of an upgrade cycle that could be monumental with the arrival of the iPhone 16.

The analyst believes that artificial intelligence (AI) technology introduced into the Apple ecosystem will provide multiple monetization opportunities both in terms of services and the device itself. He estimates that this will add US$30 to US$40 in value per share to the Cupertino company. As a result, it increases its target price from US$250 to US$275.

Daniel Ives’ enthusiasm for Apple is based on several factors. First, estimates for iPhone sales in 2024 remain achievable despite the perceived slowness in the 1st quarter in China, and current estimates for 2025 seem rather conservative.

Additionally, demand around the upgrade cycle could exceed 270 million devices to the iPhone 16, he believes. As for services, they remain very solid with double-digit growth and prove to be an important support for the stock’s valuation, according to him.

Added to this is the fact that AI is finally arriving at Apple and it will materialize in a major announcement which will be made in June during the Apple Worldwide Developers Conference (WWDC). He firmly believes that June 10 will mark the most important event in a decade for Tom Cook and his group.

Finally, the financial community does not currently give Apple the credit it should for the possible monetization of AI, the analyst believes.

Next: Microsoft (MSFT, US$430.16): the RBC analyst returns excited from his presence at the Microsoft Build meeting

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