Aug 17, 2022 - Jack Dalton
An equities analyst at Wedbush has just revised their price target for the AAPL stock. This Wedbush analyst has set a new price target for the AAPL stock of $220, which represents a 27.15% upside from AAPL's current price of $173.03.
Furthermore, Wedbush's new AAPL price target of $220, is 18.84% higher than the average analyst price target for the AAPL stock, which is currently $185.12. In the time between Wedbush's new price target being published and now, the AAPL stock has jumped 1.05%.
Wedbush's new AAPL stock price target upgrade reflects their belief that the AAPL stock has a more attractive risk/reward ratio now than it has had in the past. If the Wedbush analyst's AAPL stock prediction comes to fruition it could signify more than just a 27.15% upside, as such an increase may encourage continued growth.
A data pull from the AAPL Stocktwits forum reveals the following:
Doing the same with the AAPL Twitter Message Board reveals:
As you can see, the AAPL Stocktwits forum has had a positive reaction as all of their social metrics have increased by high-double or low-triple digits. This is great to see, however, we should look further into the messages to see if they are bullish and if they stem from the analyst upgrade. Firstly, it appears as though a good chunk of the messages being posted in the AAPL StockTwits forum are referring to "analyst price targets" whether it be directly citing the Wedbush upgrade or average analyst targets. However, the overall sentiment in the AAPL StockTwits forum has decreased from 50% to 47%, which is not ideal.
However, you might have noticed that the AAPL Twitter community has experienced a nearly opposite reaction as the AAPL StockTwits forum did. Like me, you might be wondering why this is... let's take a look. Firstly, all of the large accounts posting about the AAPL stock on Twitter have mentioned either the Wedbush or Credit Suisse analyst upgrade. However, if all of these large accounts are posting about the AAPL stock, why is their sentiment down? Perhaps AAPL's low posting volumes from 4-9 am this morning have something to do with their posting volumes not increasing by much, but what about their impressions? It turns out that 2 days ago, AAPL had a huge (7.7M) spike in impressions around noon. If we add these impressions to today's figure, we would arrive at 62.3M, which is much closer to the previous day's impressions of 63.26M
Here is a count of “whale” accounts that are active on AAPL Twitter (over the past 72 hrs):
As you can see, there are a lot of "large" accounts that have been posting about the AAPL stock on Twitter over the past couple of days. As previously mentioned, most of these large accounts are making posts that refer to recent price target updates (Wedbush and Credit Suisse), which is helping spread awareness. These accounts are maintaining AAPL's huge sentiment on Twitter.