When's the right time to buy Apple?
Loop Capital upgraded the stock to buy from hold based on promising trends for production, shipments, and sales of the tech giant's products.
“AAPL’s shares have historically outperformed in scenarios of consistent upside to [Wall Street] forecasts or as negative trends, principally iPhone shipments, stop worsening,” analyst Ananda Baruah wrote in the note. “Currently, we see a scenario of upside to consensus in near-term iPhone build and shipment forecasts (iPhone 13 build forecasts also look positive relative to consensus) as well as upside to Mac, iPad, and likely AirPod, Watch, and Services sales well into calendar year 2021.”
Jim Cramer discusses Apple in the video above.