Apple Shares Gain on Bullish Goldman Sachs Call

Investors didn’t hesitate to scoop up Apple stock after Goldman’s latest note.

• Apple shares closed Monday’s session higher by 1.85% as money allocators dropped some capital into the tech giant. Behind the move was a bullish projection from Goldman Sachs. The investment banking heavyweight put a buy rating on Apple and a $199 12-month price target.
• The mark was among Wall Street’s highest and a sign that there’s more room to the upside for the Tim Cook-led firm. If Apple, presently trading at $153.83 a share, closes this month higher, it will mark its first quarter in the green since the final three months of December 2021.
• Apple’s all-time high? That’d be $182.01 a pop set in January 2022. That’s when Apple became the first company to cross a $3tn market value. So far into 2023, the stock has gained 23%, outgaining even the best performers in the Dow industrials index.