Apple Inc. (NASDAQ:AAPL) is considered one of the best debt-free stocks to buy now according to a recent article on Insider Monkey. However, the tech giant is currently facing challenges in India related to its anti-competitive policies on the App Store. Reuters reported on January 15 that India’s antitrust case against Apple could result in penalties of up to $38 billion if the country’s penalty rules, which use the company’s global revenue to calculate penalties, are applied. Apple is contesting these rules in the Delhi High Court and the next hearing is scheduled for January 27.
The Competition Commission of India (CCI) has accused Apple of delaying responses to their queries for a year and has issued a final warning to the company to respond within a week to avoid unilateral proceedings. Despite these concerns, analysts remain optimistic about Apple’s future prospects. Nearly 60% of analysts covering the stock rate it as a Buy, with a consensus 1-year median price target of $300, suggesting a 16% upside potential.
Recent analyst activity has been positive, with Evercore ISI reiterating Apple as its “Top Pick” and raising its price target to $330 from $325. The analyst cited strong demand for iPhones and minimal impact from memory cost inflation as factors driving higher earnings estimates for the company. While Apple presents a compelling investment opportunity, some AI stocks may offer greater upside potential with less downside risk.
If you are interested in exploring undervalued AI stocks that could benefit from current market trends, consider checking out our free report on the best short-term AI stock. For more investment ideas, you can also read about the 12 Best Software Infrastructure Stocks to Buy According to Hedge Funds and Cathie Wood’s Stock Portfolio: Top 10 Stocks to Buy.
Disclosure: None. This article was originally published on Insider Monkey.
