Tigress Financial Partners analysts raised their price target on Apple (NASDAQ:AAPL) to $225.00 previously $210.00 while maintaining a Strong Buy rating. According to the analysts, the reacceleration of growth in emerging markets and Asia, the introduction of the new Vision Pro spatial computer leading to an expanded Apple ecosystem, and the increasing revenue from Services will drive long-term improvements in business performance and enhance shareholder value.
Alongside the Vision Pro mixed reality AR/VR headset, Apple has launched various new and upgraded products that boost consumer engagement and contribute to the growth of its ecosystem and services revenue. Despite a 3% year-on-year decline in Q2 revenue to $94.8 billion, which surpassed market expectations, Apple achieved an all-time high in services revenue with a 5% year-on-year increase to $20.9 billion. The company also reported a Q2 record of $51.3 billion in iPhone revenue, marking a 2% year-on-year growth despite significant foreign exchange challenges.