Apple’s stock price surge causes Goldman Sachs to eat crow

“Goldman Sachs is finally jumping aboard the Apple Stock Express,” Brian Sozzi reports for TheStreet. “Weeks after being the first company to reach a $1 trillion valuation and on indications billionaire Warren Buffett has bought more of Apple’s stock, Goldman Sachs realizes it’s time to be more upbeat.”

“We also take this opportunity to eat our hat somewhat on our cautious stance this Summer and raise our 12-month price target to $240. We had expected worse iPhone X demand and some pullback in the stock – clearly neither of these two things happened,” said Goldman Sachs analyst Rod Hall in a note Friday,” Sozzi reports. “Similar to many around Wall Street at the moment, Hall is bullish on Apple’s services business and the potential to lift prices on upcoming iPhones.”

Sozzi reports, “The analyst has a neutral rating on Apple’s stock.”

Read more in the full article here.

MacDailyNews Take: Clearly.

5 Comments

  1. Amazon and Apple are two different business models, like orange and apple. Amazon is e-commerce stretching thin with
    grocery, streaming, news paper, merchandises, clouds, anything, everything. etc, etc, etc.

    1. I do expect Amazon’s stock price will implode at some point. OR go to 2 Trillion! I only wish I could’ve ridden both the Apple and Amazon stock ride to the top.

      At least I have my Apple stock (since 2000) but only wish I had invested more. Still, going from a low 4 figure investment to near mid-6 figures today ain’t too shabby!

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