Deutsche Bank ups Apple price target, but cautions not to expect another 2019-like rally

Tomi Kilgore for MarketWatch:

Shares of Apple Inc. fell 1.1% in early morning trading, to extend their pullback from record highs to a second session, after Deutsche Bank analyst Jeriel Ong raised his price target, but cautioned investors “the stock is unlikely to come close to repeating last year’s returns” despite the belief that fundamental results are likely to be stronger than expected.

Ong raised his price target by 19% to $280, but that was 5.9% below Friday’s closing price of $297.43, as he reiterated his hold rating…

Meanwhile, J.P. Morgan analyst Samik Chatterjee reiterated his overweight rating, saying he believes there remains further upside in the stock despite the strong run up last year.

MacDailyNews Take: As usual, analysts are all over the map while trying to divine Apple’s future. Par for the course.

2 Comments

    1. their purpose is to drive the stock price back down so they can buy back in and drive it up again. With the exception of min kuo whatever, they are all wrong more often than right and based on how rich they are i dont think it is a mistake, or a bad guess they know apple financials are so strong and thier cash pile so big they could weather almost anything so why not play with the price of the stock knowing if they drive it down its easy for apple to recover based on results.

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