Apple Faces Eight-Day Stock Decline, Evercore Maintains Positive Earnings Outlook
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Stock Decline: Apple's shares fell 0.8% to $257.07 over eight consecutive trading days, marking a total decline of 6.1%, which is the longest losing streak since 1991, indicating market concerns about its future performance.
- Analyst Optimism: Evercore ISI raised Apple's price target from $325 to $330, anticipating that the upcoming earnings report will show revenue growth of 10% to 12%, driven by strong iPhone demand particularly in North America and China.
- Memory Cost Pressure: Despite potential memory chip price increases of 40% to 50%, Evercore believes Apple can mitigate profit impacts through long-term supplier agreements and in-house production capabilities, maintaining its competitive edge.
- Diverging Market Outlook: While Evercore maintains an
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
