The analyst thinks some other Big Tech names look more attractive than Apple moving forward.
There are better tech plays than Apple at the moment, according to Rosenblatt Securities analyst Barton Crockett. Crockett advised investors to look beyond Apple towards opportunities with higher growth and margin potential. The analyst has a hold rating on the stock and assigned shares a $198 price target, implying a 13.8% upside from Thursday's close. "I think you've got to be careful," Crockett said Friday about Apple on "Squawk on the Street.
Shares of Apple are down 10% this quarter, making them the second-biggest laggard in the Dow Jones Industrial Average during that time. Big Tech peers Meta and Microsoft have also struggled since the end of June. Nvidia, meanwhile, is up more than 1% during the third quarter but has slid 9% in the past month. Still, Crockett thinks these other Big Tech names look more attractive than Apple moving forward.
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