Analysts update Apple stock price target

Group 1: Analyst Insights - Bernstein analyst Toni Sacconaghi raised Apple's price target from $240 to $260, citing strong fundamentals and growth trajectory [1] - Sacconaghi emphasized Apple's status as a "quality compounder" with mid-single-digit revenue growth, improving profit margins, disciplined capital returns, and double-digit EPS growth [1] - UBS analyst David Vogt maintained a neutral stance with a price target of $236, reflecting a belief that the current price does not present an ideal risk-reward setup [4] Group 2: User Base and Market Position - Apple has over 2.3 billion devices and nearly one billion unique users, which Sacconaghi describes as a demographically attractive user base [2] - Sacconaghi noted the upcoming iPhone 16 cycle appears lackluster, potentially leading to investor disappointment [2] Group 3: Technical Analysis - Apple's stock closed at $243.85, down $6.57 (-2.62%), near the lower end of its recent trading range of $241.25 to $260.10 [5] - The support zone between $237.75 and $241.52 is expected to cushion further downward movement, while the stock's position near its 52-week highs suggests alignment with broader market trends [6] - Resistance is noted between $249.87 and $259.03, with a break above this zone potentially signaling bullish continuation [8]