Goldman Sachs Sets Bullish Price Target for Apple

Goldman Sachs analyst Michael Ng has set a bullish price target of $276 for Apple Inc., indicating a potential upside of approximately 25.23% from the posted price of $220.39. This forecast comes ahead of Apple's "It's Glowtime" event, where the tech giant is expected to unveil the iPhone 16, alongside updates to the Apple Watch and AirPods. While historical market reactions to Apple's product announcements have been mixed, Ng suggests that the event could defy this trend if it includes unexpected positive developments. These could range from a price increase for the new iPhones, advanced AI features and apps ahead of schedule, or more attractive carrier promotions. Such surprises could provide a significant boost to Apple's stock, justifying Goldman Sachs' optimistic price target.