Apple’s Price Target Raised at Deutsche Bank Ahead of Q3
<p>Deutsche Bank raised its price target on <a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple (NASDAQ:AAPL)</a> to $210.00 from $180.00 while reiterating its Buy rating ahead of the company’s Q3 earnings results, scheduled to be released on Aug 3.</p>
<p>The analysts expect the Q3 results and guidance for Q4 to be in line with or slightly exceed the current estimates of the Street. Recent checks and third-party data indicate positive prospects for iPhone, Mac, and Services, suggesting potential upside.</p>
<p>Even though the recovery in global smartphone demand is not as robust as anticipated, it appears that the premium market, including Apple, is experiencing less impact. Moreover, the preparation for the launch of the new iPhone seems to be progressing well, leading to the belief that iPhone unit sales could grow year-on-year in 2023, contrary to the Street's expectations of around a 5% decline.</p>
<p>The analysts also highlighted the potential for EPS improvement from foreign exchange dynamics, which previously had a negative effect on revenue growth and gross margins. </p>

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