HSBC Analyst Upgrades Apple Stock to Buy Ahead of Earnings
HSBC analyst Nicolas Cote-Colisson upgraded Apple stock from Hold to Buy and raised the price target from $260 to $366, citing a shift in perspective on its AI strategy. The firm highlights that unlike hyperscalers spending heavily on capital expenditures (capex), Apple is positioned with lower capex at 2.5% of sales compared to 39% for hyperscalers.
Topics: AI Strategy Apple Capex Analysis Earnings Outlook HSBC