Yahoo Finance

Apple sentiment has 'turned positive': Analyst

Apple (AAPL) shares are trending higher following TD Cowen's decision to raise its price target to $250 from $220 on the stock. TD Cowen's managing director and senior research analyst Krish Sankar joins Morning Brief to discuss this call ahead of Apple's second-quarter earnings report due Thursday. Sankar notes that the "stock has had a pretty good run" in recent months, largely driven by AI hype. He acknowledges that there were significant concerns surrounding Apple, including a slowdown in China and the lack of a clear AI strategy. However, he points out that share loss in China has stabilized, and the company's AI strategy is now more evident with Apple Intelligence. "I think you're kind of having a setup where things have turned positive for Apple from a sentiment standpoint," he told Yahoo Finance. Despite this optimism, Sankar cautions that Apple's AI initiatives will not drive "a massive AI refresh driven by the phone this year." He suggests that such developments are more likely to materialize in 2025. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith