Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Why Apple stock can rise over 30%: Goldman Sachs initiates first Buy since 2017

For the first time since 2017, Goldman Sachs has initiated first Buy on Apple since 2017 after saying shares could climb as high as 36% in 2023.

Goldman Sachs is turning bullish on Apple. The world's second-largest investment bank initiated a ‘Buy’ rating on the maker of iPhones, iPads, and Mac computers.

Goldman set a 12-month target price of $199 per share, suggesting a possible gain of more than 33%.

Analyst Michal Ng said, "Apple’s installed base growth, secular growth in services, and new product innovation should more than offset cyclical headwinds to product revenue, such as reduced demand in the iPhone, PC, and tablet categories,"

"The market’s focus on slower product revenue growth masks the strength of Apple’s ecosystem and associated revenue," he added.

APPLE SHAREHOLDER MOVES TO BOOT AL GORE FROM BOARD OF DIRECTORS

Apple revenue fell 5% to $117.2 billion in the fiscal first quarter ended Dec. 31, 2022, though the company set an all-time revenue record of $20.8 billion in its services business.

Net income fell to $30 billion from $34.6 billion.

Apple shares have more than tripled since the last time Goldman had a buy-equivalent recommendation on Apple in 2017.

APPLE HAS NO-PRICK GLUCOSE MONITOR IN THE WORKS

Meanwhile, risks to the bank’s prediction include weakening consumer demand, supply chain disruption, intensified competition, regulatory hazards and capital allocation execution. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE 

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MillValley.com & California Media Partners, LLC. All rights reserved.