Categories Analysis, Technology

A quick look at analyst recommendations on Apple (AAPL) stock

Ever since Apple (AAPL) announced that it would no longer be reporting iPhone unit sales figures, the stock has been on a rough run. Shares have plunged 16% since the last earnings conference call when Apple executives made this key announcement.

Endorsing the speculation that iPhone sales are slowing down, multiple analysts have now come forward with bearish remarks and price target cuts. Let’s take a quick look at the analysts’ recommendations on the stock.

apple stock analyst ratings
Photo by Medhat Dawoud on Unsplash

Currently, the stock has a MODERATE BUY rating, with an average price target of $236. This is at a 27% upside from the Tuesday’s trading price of $185.86. Therefore, despite the recent downgrades, the stock continues to hold some optimism in the market.

Of the 35 analysts covering the stock, 21 recommend BUY, while 13 have a HOLD rating. Only one analyst has recommended selling the stock.

Daniel Ives of Wedbush is at present the most bullish analyst, with a price estimate of $310. Reiterating his OUTPERFORM rating on November 5, Ives said, ““We continue to encourage investors to see the forest through the trees on this name and view last week as the first step in the ultimate re-rating of the stock higher over the coming years.”

Meanwhile, Goldman Sachs earlier today slashed Apple’s price target from $209 to $182, reiterating its NEUTRAL outlook.

Apple fourth quarter 2018 Earnings Infographic

Goldman Sachs analyst  Rod Hall stated, “While it now seems that Apple may have miscalculated on the price/feature balance for the XR, we also believe that severe Chinese demand weakness in late summer and a stronger U.S. dollar were unexpected headwinds for the company that were difficult to predict.”

Last week, Guggenheim Partners downgraded the stock to NEUTRAL from BUY and UBS slashed its 12-month price target to $225 from $240 as both analysts feel an increase in average selling price would no longer be able to offset falling sales.

 

We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top