Loop Capital Lowers Apple Target to $180

26 MAY 2022 - Another Apple price target has dipped a bit. Seeking Alpha says Loop Capital analyst Ananda Baruah has lowered his firm’s 12-month target on Apple shares, thanks in part to iPhone concerns for the current quarter. The note’s kind of weird. While he thinks others of his ilk are overshooting iPhone expectations for the June-quarter by 4-million to 6-million units, his team thinks the “Street remains low on iPhone revenue for the September and December Q’s given [average selling prices].”

While the analyst is still positive on Apple shares, his former price target of $210 looks like a steep climb in the next year. He’s dropped his price target on shares of the Cupertino-company to $180.