Apple looks in some ways to be the strongest of the major U.S. technology companies. It hasn’t had to implement mass layoffs and it’s poised to benefit from a rebound in Chinese demand. However, Apple is still slowly racking up bearish views from Wall Street analysts, concerned about consumer spending.Evercore has a $190 target price on Apple, which traded at around $152 in premarket trading on Tuesday.
The Evercore analysts cite Apple’s higher operating efficiency than big tech rivals as a reason to justify a premium but that might not cut it in a market nervous about the Federal Reserve’s monetary policy and its effect on tech valuations. Restoring optimism around Apple stock could take the successful launch of another piece of hardware – a virtual-reality headset…
Analysts at Wedbush said in a research note that a headset launch in the summer would be a prime candidate to “move the needle” on Apple stock.