Investong.com - Two downgrades and one bullish price forecast for Apple in the past week have added to investors' anticipation of the tech giant's earnings next week and what that may mean for the coming year.
Both Atlantic Equities and Longbow Research downgraded Apple shares (NASDAQ:AAPL) to neutral but neither lowered their price target for the stock.
Meanwhile, Bank of America (NYSE:BAC) gave its price target a huge boost, going from $180 a share to $220 a share.
With Apple shares already up 5% this year and 50% over the past 12 months, investors are weighing whether actual business can keep pace with expectations.
Wall Street overall seems to think so. Of all the analysts covering the stock, 28 have a buy rating. Only 9 have a hold. Not one has a sell rating on the stock.
Some analysts are expecting the company's revenue and net income in 2018 to pass its record levels of 2015.
Though much of the focus is on iPhone sales, analysts say this year's performance will have a lot to do with Apple's other businesses, such as services, and how it fares under a lower corporate tax regime.
Apple is expected to release quarterly earnings after the close of trading on February 1.