There is no doubt that US stocks have struggled throughout the year so far. Despite optimism brewing, geopolitical conflicts and economic uncertainty had driven a host of sell-offs. Yet, that may be set to change for one company as Apple (AAPL) has been lured by China, with the tech stock eyeing an increase to $250.
According to a recent TipRanks report, China has highlighted flourishing “business opportunities” for both Apple and Pfizer (PFE). Indeed, the country is seeking to “win back their trust” amid the growing trade war it has brewing with the United States. That market could be monumental for the iPhone developer.
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Apple Turning to China? Why It Could Be Massive for the Stock
When one considers consistent dominance as a company, few demonstrate that as well as Apple. One of the most impressive technology firms in the history of the world, the company had been the first to reach both the $2 trillion and $3 trillion market cap milestones.
Moreover, it set its sights on being the first to hit a $4 trillion market value in 2025. Although that has hit some bumps in the road throughout the first three months of the year, things could be changing. Indeed, Apple (AAPL) could be set to get a boost from China as the tech giant’s stock eyes $250.
Also Read: Apple (AAPL) Shifts Spending Amid $1B Loss as Stock Eyes $300
Specifically, China’s Vice Premier He Liftn met with chief executives of Mastercard, Pfizer, Cargill, and Apple at the recent Chian Development Forum that took place Sunday. There, it sought to entice the iPhone creator to focus more on the second-largest economy in the world.
The China Council for the Promotion of International Trade urged Apple to “deepen its supply chain relations with the country. Specifically, the ask came as Apple has already committed $500 billion in investment in the US. Additionally, trade tariffs are set to take effect.
If it were to embrace China, a country it has struggled to make headway in the past, things could drastically change. The stock currently has a median target of $255, up 16% from its current position. Moreover, it has a high-end projection of $325, according to CNN. That gives the company a 47% upside over the next year.
