Company Of The Day: Apple

October 17th, 2022 by Trefis Team
-10.31%
Downside
180
Market
162
Trefis
AAPL: Apple logo
AAPL
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?

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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

 

What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.

 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

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