Goldman Sachs Reiterates Its Buy Rating on Apple Stock, Keeps PT at $253

Apple Inc. (NASDAQ:AAPL) is one of the 12 Best Stocks to Invest in for Good Returns. On July 7, Goldman Sachs reiterated its Buy rating on Apple Inc. (NASDAQ:AAPL) stock, keeping its price target at $253.

Mike Ng from Goldman Sachs retains his optimistic stance on Apple Inc. despite declining smartphone shipments in China. For the first month since May 2024, foreign brands have outperformed the overall Chinese market. Ng attributes this relative strength to growing discounts by Apple Inc. ahead of China’s 618 shopping period. This move has allowed the iPhone 16 Pro with 128 GB storage to be eligible for domestic smartphone subsidies.

The analyst sees the market challenges as overall mobile phone trends worsen annually and sequentially. The total smartphone market declined over 22% year-over-year and 5% sequentially in May 2025. Ng sees Apple Inc. remaining a leading figure in the industry and keeps his Buy rating on the stock.

Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories.

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Disclosure: None. This article is originally published at Insider Monkey.