Citi analysts give five reasons to buy Apple stock despite its target price being going down, according to MarketWatch. The reasonings include the launch of iPhone 14, a shift toward premium models, a $90 billion stock buyback, a potential for more devices-as-a-service, and upcoming new product categories.
While shares are down, Apple will reveal third-quarter results at the end of the month. The MarketWatch article cites that the loss is less than other tech giants like Microsoft, Alphabet, and Meta. Additionally, supply chain troubles and the company’s exit from Russia have hurt Apple’s third quarter.
