HSBC Keeps Hold on Apple (AAPL), Sets $220 Price Target

Apple Inc. (NASDAQ:AAPL) is one of the AI Stocks on Wall Street’s Radar. On September 10, HSBC analyst Erwan Rambourg reiterated a Hold rating on the stock with a $220.00 price target. The rating follows Apple’s product keynote on September 9.

According to the firm, Apple delivered an awe-inspiring keynote with a range of iPhones, watch, and AirPods. It noted how the iPhone 17 series were similar to market expectations considering the various specifications and innovation leaked beforehand.

Despite the leaks, the firm noted how Apple’s hardware updates have stood out.

“Apple’s “awe-inspiring” keynote on 9 September showcased new products to be made available from 19 September, including a range of iPhones, a Watch, and AirPods. The iPhone 17 series is not different from market expectations as most of the innovation and specs were leaked beforehand. Hardware innovation is at every corner, from better screens, cameras, or batteries, and it would be dishonest to not flag the slickness of all phones presented. This is particularly true for the slim iPhone Air (5.6mm vs 5.5mm expectation). Same for Apple Watch: improved hardware for the Series 11, SE3, and Ultra 3, but also in line with expectation. On AirPods (Pro 3), innovation leads to improved sound quality and noise cancellation capabilities (2x vs AirPods Pro 2).”

Apple is a technology company known for its consumer electronics, software, and services.

While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.