Goldman Sachs chops $100 off Apple price target

“Apple Inc.’s (AAPL) 12-month price target was cut to $660 from $760 a share on Friday by Goldman Sachs,” Barbara Kollmeyer reports for MarketWatch.

“Apple shares suffered their worst day in four years on Thursday, sinking 12% to around $450 in the wake of disappointing results a day prior,” Kollmeyer reports. “‘Apple’s guidance was essentially what we expected from the typically conservative management team. The problem, and the key disappointment in the call, was that management made it pretty clear that it was moving towards providing more realistic guidance.'”

Read more in the full article here.

Wall Street Pit reports, “Apple shares hit an all time high of $705.07 on September 21, valuing the iPhone-maker at $658 billion. Since then, Apple, whose current market cap stands at $423 billion, has lost about $225 billion, or 35%, of its in market value.”

WSP reports, “Goldman also cut its 2013-2015 revenue estimates by 2% to 6% and EPS estimates by 6% to 14%. The bank however, kept Apple on its conviction-buy list, on ‘optimism that new products in the coming months will invigorate new user growth.'”

Read more in the full article here.

22 Comments

    1. I’m not sure I really follow what’s so ‘helpless and hopeless’. Goldman Sachs estimates that Apple stock will be worth $660 in a year, and it’s currently selling for $450. That sounds like a pretty good return to me. What am I missing?

  1. “The problem, and the key disappointment in the call, was that management made it pretty clear that it was moving towards providing more realistic guidance.”

    Q) In what twisted world is increasingly accurate information a problem and a disappointment ?

    A) The world in which analysts live.

  2. Wow, is this opposite world or what! Apple must have really pissed everybody off as they innovate further. All those damn tech guys are watching as their investments in other tech companies is being hammered by Apple- so let loose the dogs of war.

  3. All analyst were screaming for a cheaper iPhone and iPad, now they are disappointed about profits.

    Also, after hours trade should be banned, regular folks like do not stand a chance when something like that happens, you come in the morning and stock is down 10%

    1. I’m just a regular investor, but was still able to sell after hours.

      My broker sold some of my AAPL after hours last autumn. After hours and pre trading as usually more volatile than normal trading and as a result he was able to get me a price that was better than I was expecting, or would have got by the time the market opened for normal trading.

  4. I logged on to S/B this morning and found I now have $450,000 in cash and no AAPL. My 1,000 shares were all gone on stop order of $450. I was greedy and now I am out. And I am out of here as well. I know I will not be missed by you miserable basturds but I am done wit AAPL and done with MDN. My gain was less than $100k before taxes.

  5. They are turning up the heat at the SEC with appointment of tough prosecutor. I hope she is not intimidated by the likes of Goldman Sachs and other banks who are even more bigger to fail, and may be pulling dirty tricks with the market. That said, Apple was sure stupid and arrogant for not making a bigger iPhone display.

    1. Paul,
      I agree that Apple was stupid and arrogant in not making a bigger iPhone display. That being said…if they do, I will just consider them a “slavish” copier of Android phones. After all, a big display sure makes it look like Samsung. If Apple can say they own a rectangle with rounded edges, then Samsung should be able to claim that a large screened phone is their idea. After all, Jobs even badmouthed a small tablet, but Android put out plenty of them and the new ipad mini has outsold the old one, so you are correct that too much arrogance for too long slapped Apple. I have both iphone and Note II and prefer my Galaxy Note II over iphone any day.

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