Analyst downgrades Apple to ‘Sell’

New Street Research analyst Pierre Ferragu has placed a “Sell” rating on Apple, the world’s most valuable company.

Apple Park in Cupertino, California
Apple Park in Cupertino, California

Martin Baccardax for The Street:

New Street Research analyst Pierre Ferragu slashed his price target on Apple by 28%, to $90 a share, and lowered his rating to “sell,” from “neutral,” joining only one other analyst — and none of the major investment banks — in questioning the group’s near-term prospects.

Ferragu argues Apple’s iPhone 12 sales, boosted by bets on 5G network expansions around the world, are unsustainable and could slow significantly into the second half of the calendar year. He also thinks the next line-up of iPhones will lack the innovation need to entice new customers and upgrades while pegging his 2022 financial year shipment forecasts in the range of 180 million to 200 million, around 20% below the Street consensus at the midpoint.

MacDailyNews Take: We’re all for shaking out the weak-kneed and generating a nice AAPL sales price price, but let’s keep in touch with some thread of reality, okay?

How is New Street Research’s Pierre Ferragu’s track record, you ask?

iCal sez: Back in August 2018, New Street Research’s Pierre Ferragu downgraded the tech giant from hold to sell, positing, basically, that the iPhone X was too popular therefore citing tough iPhone comparisons in the coming years. Ferragu’s “Sell” rating back then came with a pre-split 12-month price target of $165. One year later, AAPL closed at $212.64 (pre-split).


  1. Goldman shack downgraded Apple as a sell last year to trick us, shook the weak hands to sale, then few months later it rallied significantly. The institution and hedge funds manipulated small retailers all the times.

  2. Lots of fools here. The SEC looks at Wall Street trades VERY closely. I had a girlfriend who worked at TG Capital. If she wanted to buy or sell ANY stocks, she had to have her company’s regulatory people inspect the trade well in advance of execution. If it had ANYTHING to do with her job, it would be disallowed. Why? The SEC reviews all potential insiders and their trades. HUGE fines await those who don’t follow the rules.

    The posts on this and other threads talking about market manipulation are written by rabid drooling cretins who have no idea how the world works. Perhaps if they graduated high school they’d have a slight understanding.

      1. Hey Helen,

        Apparently it is OK for the libturds to be stupid, but not OK for it to be pointed out. It hurts their widdle feelings. They don’t like knowing that they are idiots.

  3. I’d say it’s a Hold, but a Sell isn’t a terrible idea. During the huge stock market run up over the last 6 months or so, AAPL rose a paltry 10%, it has lost about half of that since, the price is sitting roughly where it was last summer. Whether it’s market manipulation or something else, AAPL is simply not allowed to grow for one reason or another like other stocks are, investors need to factor this into their strategies. I’m 10x of my initial investment in the company, but that also took a decade to achieve. Supply chain shortages, politicization and buggy software aside, someone is making money by NOT letting AAPL go gangbusters like we think it should, I expect that to continue. The seemingly ineffective stock buybacks and the measly dividend don’t inspire confidence either.

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