Apple-BondsWall Street brokerage firm Drexel Hamilton today informed its clients it continues to believe Apple is "one of the most underappreciated stocks in the world," according to a research note seen by MacRumors.

Apple analyst Brian White retained his "buy" rating for AAPL and $185 price target. Apple shares are currently trading at around $114, their highest level since late October, after rising over 1% in intraday trading.

White said Apple continues to face a never-ending waterfall of "gloom and doom" media reports, just months after launching the new MacBook Pro and iPhone 7.

Nevertheless, he looks forward to 2017, when he believes Apple will have a "more durable iPhone cycle" that can return the company to more consistent sales growth after three consecutive quarterly declines.

Given this weak stock performance over the past couple of years, and our expectation of a more durable iPhone cycle that can return the company to more consistent sales growth, we look forward to 2017. In the near-term, we look for Tim Cook to make Apple grow again in [the first quarter of the 2017 fiscal year] on the back of the iPhone 7 and a happy holiday season, while we look forward increased cash distribution in 2017 [and] the launch of iPhone 8 and more color on future innovations.

Drexel Hamilton said Apple's stock has risen by 7% this year, trailing the 10% overall increase in stocks among the S&P 500 Index.

Top Rated Comments

BootsWalking Avatar
112 months ago
AAPL may be undervalued when compared to the extreme overvaluation of other companies in the S&P but on a rational basis AAPL is fairly valued for a company with negative earnings growth and no current prospects for returning to growth.
Score: 16 Votes (Like | Disagree)
Cineplex Avatar
112 months ago
It's the old pump and dump.
Score: 11 Votes (Like | Disagree)
RightMACatU Avatar
112 months ago
A Wall Street brokerage "bubble making" firm is the last place I want to take financial advice from.
Score: 10 Votes (Like | Disagree)
WiiDSmoker Avatar
112 months ago
Their stock would rise if they had a headphone jack in their new phones
Score: 5 Votes (Like | Disagree)
newyorksole Avatar
112 months ago
So many doom and gloom articles, yet Apple is still one of the most successful and profitable brands in the world.....
Score: 4 Votes (Like | Disagree)
rain1ny Avatar
112 months ago
It's the old pump and dump.
That's exactly what it is.
Score: 4 Votes (Like | Disagree)

Popular Stories

iphone 16 pro ghost hand

5 Reasons to Skip This Year's iPhone 17 Pro

Thursday July 10, 2025 4:54 am PDT by
Apple will launch its new iPhone 17 series in two months, and the iPhone 17 Pro models are expected to get a new design for the rear casing and the camera area. But more significant changes to the lineup are not expected until next year, when the iPhone 18 models arrive. If you're thinking of trading in your iPhone for this year's latest, consider the following features rumored to be coming...
apple wallet drivers license feature iPhone 15 pro

Apple Says iPhone Driver's Licenses Will Expand to These 8 U.S. States

Tuesday July 8, 2025 11:26 am PDT by
In select U.S. states, residents can add their driver's license or state ID to the Wallet app on the iPhone and Apple Watch, providing a convenient and contactless way to display proof of identity or age at select airports and businesses, and in select apps. Unfortunately, this feature continues to roll out very slowly since it was announced in 2021, with only nine U.S. states, Puerto Rico,...
macbook pro blue green

M5 MacBook Pro No Longer Coming in 2025

Thursday July 10, 2025 12:38 pm PDT by
Apple does not plan to refresh any Macs with updated M5 chips in 2025, according to Bloomberg's Mark Gurman. Updated MacBook Air and MacBook Pro models are now planned for the first half of 2026. Gurman previously said that Apple would debut the M5 MacBook Pro models in late 2025, but his newest report suggests that Apple is "considering" pushing them back to 2026. Apple is now said to be...
iPhone 17 Pro in Hand Feature Lowgo

Leaker Reveals Amount of RAM in iPhone 17 Through iPhone 17 Pro Max

Wednesday July 9, 2025 8:08 am PDT by
Three out of four iPhone 17 models will feature more RAM than the equivalent iPhone 16 models, according to a new leak that aligns with previous rumors. The all-new iPhone 17 Air, the iPhone 17 Pro, and the iPhone 17 Pro Max will each be equipped with 12GB of RAM, according to Fixed Focus Digital, an account with more than two million followers on Chinese social media platform Weibo. The...
iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro to Reverse iPhone X Design Decision

Monday July 7, 2025 9:46 am PDT by
Since the iPhone X in 2017, all of Apple's highest-end iPhone models have featured either stainless steel or titanium frames, but it has now been rumored that this design decision will be coming to an end with the iPhone 17 Pro models later this year. In a post on Chinese social media platform Weibo today, the account Instant Digital said that the iPhone 17 Pro models will have an aluminum...
Foldable iPhone 2023 Feature 1

Foldable iPhone Display Production Begins Ahead of Launch Next Year

Wednesday July 9, 2025 10:59 pm PDT by
Production of foldable OLED displays for Apple's first foldable iPhone have begun ahead of its expected launch next year, Korea's ETNews reports. The first foldable iPhone's displays are being produced by Samsung Display, who are establishing a production line dedicated to the upcoming Apple device its A3 factory in Asan, Chungcheongnam-do. The production line will make displays exclusively...
apple tv 4k new orange

New Apple TV Expected Later This Year With These New Features

Saturday July 12, 2025 3:09 pm PDT by
A new Apple TV is expected to be released later this year, and a handful of new features and changes have been rumored for the device. Below, we recap what to expect from the next Apple TV, according to rumors. Rumors Faster Wi-Fi Support The next Apple TV will be equipped with Apple's own combined Wi-Fi and Bluetooth chip, according to Bloomberg's Mark Gurman. He said the chip supports ...
iphone 16 pro pro max

iPhone 17 Pro Models With BOE Displays Will Be Sold in China Only

Thursday July 10, 2025 11:59 pm PDT by
iPhone 17 Pro and iPhone 17 Pro Max models with displays made by BOE will be sold exclusively in China, according to a new report. Last week, it emerged that Chinese display manufacturer BOE was aggressively ramping up its OLED production capacity for future iPhone models as part of a plan to recapture a major role in Apple's supply chain. Now, tech news aggregator Jukan Choi reports...