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?
- Will Rising Margins And Stock Buybacks Drive Apple Higher?
- China In Focus As Apple Reports Q2 Results
- 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?
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