Apple Stock: Advertising Business Called Underappreciated – Investor’s Business Daily
Apple (AAPL) already generates significant high-margin sales from advertising on its devices, but it has opportunities to grow its ad business. That could provide a lift to Apple stock, a Wall Street analyst says.
“We believe Apple advertising on its own apps is underappreciated,” Barclays analyst Tim Long said in a note to clients Tuesday. “Most ad revenues are generated on the App Store, with some contribution from News and Stocks. This could expand to other apps like Maps, TV+, Podcasts, etc.”
Long estimates that Apple generated $5.3 billion in advertising sales in 2022. He predicted that ad sales will rise 42% in 2023 to $7.5 billion. And he sees Apple’s global ad revenue hitting $19 billion by 2026.
While Long is upbeat on Apple’s ad sales prospects, he is cautious on Apple stock. He has an equal weight, or neutral, rating on shares with a price target of 145.
Apple Stock Dips On Tuesday
In midday trades on the stock market today, Apple stock fell 1% to 156.78.
“Over time,…
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source: https://news.oneseocompany.com/2023/03/28/apple-stock-advertising-business-called-underappreciated-investors-business-daily_2023032842700.html
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