Company Of The Day: Apple
What?
Apple (NASDAQ:AAPL) announced a new high-yield savings account in partnership with Goldman Sachs for Apple Card holders. Users can transfer cashback rewards from Apple Card purchases and also add additional funds to the account.
Why?
- Down 10% This Year, Will Gen AI Tools Help Apple Stock Recover?
- Down 5% Over The Last Month, Will Strong iPhone Sales Help Apple Offset Mac Headwinds In Q1?
- After Over A 40% Rally In 2023, Will Antitrust And iPhone Issues Hurt Apple Stock?
- Up 45% Since The Beginning Of 2023, Where Is Apple Stock Headed?
- Up 34% This Year, Will Apple Stock Rally Further Following Q4 Results?
- Will New iPhones Help Apple Stock Offset A China Slump?
Apple has been increasingly pushing into the personal finance space, with Apple Pay, Apple Card and the recently launched buy now pay later offering. Savings accounts look like a logical extension, especially given the rising interest rate environment.
So What?
We remain positive on Apple stock, with a $175 price estimate, which is about 25% ahead of the current market price.
See Our Complete Analysis For Apple
Returns | Oct 2022 MTD [1] |
2022 YTD [1] |
2017-22 Total [2] |
AAPL Return | 0% | -22% | 378% |
S&P 500 Return | 0% | -25% | 60% |
Trefis Multi-Strategy Portfolio | -2% | -28% | 187% |
[1] Month-to-date and year-to-date as of 10/16/2022
[2] Cumulative total returns since the end of 2016
See all Trefis Price Estimates