Apple maintains its shine due to stronger iPhone shipments: Loop

Apple (NASDAQ:AAPL) had its Buy rating reiterated by Loop Capital due to stronger-than-expected iPhone shipments.

Data by Loop Capital supply chain analyst John Donovan suggests iPhone shipments for the September quarter are above expectations.

The asset management company also maintained its 12-month price target of $300 on the stock, which is 32% above Apple’s current price per share.

However, Seeking Alpha analyst Millennial Dividends gives Apple a Sell rating.

“Even as the iPhone 16 might drive a more robust upgrade cycle, the better-than-expected sales appear to be baked into the stock price with limited ROR potential for investors,” they said in an analysis posted yesterday. “Furthermore, Apple lacks any new product breakthroughs to drive its massive top line further, and making a dent with niche-product releases such as Vision Pro will prove increasingly difficult.”

Meanwhile, Seeking Alpha analyst Mark Hibben rates Apple at Buy.

“Apple’s next-generation Silicon and Apple Intelligence are about to be unleashed, and they will fundamentally change, once again, the way we use personal computers,” Hibben said in an analysis published on Aug. 16.

He said selling Apple now would be poor timing.

“Apple is about to achieve two important milestones in their technology development and product releases,” Hibben added. “The first is the release of new Macs based on the M4 processor series. The second is the release of new iOS, iPadOS and macOS versions featuring Apple Intelligence.”

The iPhone 16 is expected to be released sometime next month.

Overall, Apple has a Hold rating from Seeking Alpha analysts and a Buy rating from Wall Street analysts. Seeking Alpha’s Quant system, which routinely beats the market, rates it a Hold.