Make a fortune before singing empty! Goldman Sachs: avoiding Apples iPhone release

category:Finance
 Make a fortune before singing empty! Goldman Sachs: avoiding Apples iPhone release


Analysts at Goldman Sachs expect demand to remain weak through the year to the end of the year; iPhone sales and average selling prices are disappointing; service revenue growth will slow. This will result in a sharp decline in Apples earnings per share (EPS) in fiscal 2021, which is 16% lower than the Wall Street consensus expected.

Goldman Sachs reported maintaining its sell rating on apple, raising its target price from $268 to $299, still 23% below Apples closing price on Wednesday.

After the release of the Goldman Sachs report, Apples share price opened lower on Thursday, falling below $369 in midday trading, a new intraday low since July 2, with a intraday drop of more than 5%, the largest intraday decline since April 1, leading the market.

Source: Wall Street news editor: Yang Bin_ NF4368