Apple Stock Has Another 30% Upside, Citi Says in New Buy Rating
- The stock’s 46% gain in 2023 has it near a $3 trillion value
- Apple’s ability to expand margins is underestimated, Citi says
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Apple Inc. has room to rally another 30%, according to Citigroup Inc., even after a surge that’s sent shares to a record high and the company toward a $3 trillion valuation.
Analyst Atif Malik started coverage of the iPhone maker with a buy rating and $240 price target, the highest among Wall Street analysts. The stock has already risen 46% this year and closed Thursday at a record $189.59. It was up 0.2% in postmarket trading as of 6:17 p.m. New York time.