“The firm said that while it didn’t think Apple stock was a short, “we believe Apple will face fundamental deterioration over the next 6 to 12 months,” analyst Jun Zhang said in a note to clients. Rosenblatt did, however, maintain its 12-month $150 price target.
“Adding to our ‘sell’ thesis, we believe new iPhone sales will be disappointing, iPad sales growth will slow in the second half of 2019, other product sales growth, such as the HomePod, AirPod, and Watch, may not be meaningful to support total revenue growth,” they said.
They expect Apple stock to hit $150 in the next 6-12 months.
MacDailyNews Take: Can Tim Cook’s Apple turn this around? Are Apple’s customers more or less important than shareholders? And haven’t we seen this before?