Major Investment Bank Adjusts Apple Price Target Significantly

Deep News03:11

Apple's stock price rose on Friday after BNP Paribas upgraded the company's rating from Neutral to Outperform in a research report, setting a $300 price target. The bank stated that Apple is likely better positioned than its competitors to handle rising memory chip costs.

The investment bank indicated that price pressures on memory chips could dampen demand for mid-range and low-end smartphones across the industry. The report noted that Apple's scale, premium product portfolio, and supply chain control may help the company absorb additional cost pressures more effectively than its rivals.

This upgrade from BNP Paribas adds to a broader Wall Street view that Apple can defend its market share even in a more challenging component cost environment. The institution's perspective is that Apple's pricing power and procurement strength provide it with greater flexibility to protect demand compared to its peers.

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