Apple stock (NASDAQ: AAPL) is currently trading at the $308 level and has turned bullish in May. The leading equity has spiked more than 15% in a month, surging by nearly 40 points. The uptick has delivered double-digit gains to investors in just 30 days, and the bullish momentum is likely to continue.
The positive momentum comes from two developments that pushed Apple stock higher in the charts. The first includes an earnings blowout, as the company generated $111.2 billion in revenue in Q2. The second momentum came after the latest data showed iPhone 17 sales increasing by 22%. This can lead to bigger revenue estimates in the next earnings call from Apple.
Similarly, how Apple stock went from $267 to $308 in a month, the equity has a bigger potential in the coming months. Leading market analytical firm StockAnalysis shared a consensus bullish forecast from Wall Street analysts for AAPL for the next 12 months. While all these developments are stacked in favor of Apple, the momentum could swing towards a stock uptick.
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Apple Stock 12 Months Price Prediction (AAPL)
According to the latest price prediction, Apple stock is projected to breach the $400 level in the next 12 months. That’s a profit of nearly $92 per share if traders hold on to it until 2027.
The price prediction estimates that Apple stock could rise by another 30% from its current value of $308. Therefore, an investment of $1,000 could turn into $1,300 if the forecast turns out to be accurate. That’s stellar returns in a year, as only a few assets are capable of generating double-digit gains in a short period.
This makes keeping AAPL in your must-watch list as it has bigger upside potential. Traders who take an entry position now at the $300 range could benefit from the upsurge. Also, buying the dips on Apple stock when it falls below the $300 level could lead to gaining more profits in the long run.
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