Goldman Sachs ups Apple target price
Wednesday April 24, 2019. 04:21 PM , from Mac Daily News
“Analysts at Goldman Sachs have improved their view of Apple’s share, raising the stock’s 12-month target price from $140 to $182 under the belief demand in China is no longer an issue, at the same time as anticipating Apple will beat its guidance for the upcoming financial results,” Malcolm Owen reports for AppleInsider.
“Goldman Sachs has been slow to update its valuation for Apple’s share price, after cutting the target from $182 to $140 in early January along with other analysts following Apple’s financial slip,” Owen reports. “Wednesday’s investor note sees the firm bring its target back up to what it was over three months ago.”
Owen reports, “Goldman Sachs believes market checks ‘indicate no further deterioration of demand in China,’ a suggestion that the situation won’t get worse for Apple since its January slip, but at the same time warns ‘European consumer sentiment implies the possibility for worse demand there.'”
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MacDailyNews Take: Goldman Sachs’ Apple analysts are reactive laggards.
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