Veering on the side of caution, investment bank Goldman Sachs said Friday it's cutting its rating and price target on shares of Apple amid mounting uncertainty over the impact of COVID-19 on near-term consumer spending on items such as iPhones.
Following Goldman Sachs predictions claiming that Apple TV+ trials would be reported financially in such a manner that investors would complain and bail out of the stock, Apple has said that it will have no impact on results at all.
After only restarting coverage on Apple stock in early 2018, Goldman Sachs has cut its stock price forecast dramatically, because of perceived lack of demand for the iPhone XR, and lack of enthusiasm for Apple products in China.
Despite other data sources to the contrary, Goldman Sachs' Rod Hall is afraid of a slowdown in the Chinese iPhone market that may dramatically impact Apple's quarterly earnings, and future prospects in the region.
Investment firm Goldman Sachs initiated coverage of the investment world's largest company, Apple, this week, and set things off with a pessimistic tone, projecting the stock price will stay relatively flat over the next year.
Apple's forecast for its next fiscal quarter was particularly strong, leading market watchers to believe that, in addition to the next-gen "iPhone 7s," the much anticipated "iPhone 8" could be on sale at the tail end of the September quarter in limited quantities, or at the very least in early October.
After the close of business on Tuesday, Apple will report the results for what is seasonally its slowest quarter of the year, with Apple and industry watchers predicting around $44 billion in revenue. But all eyes are on Apple's guidance for the fourth fiscal quarter, to see how confident the company is about the "iPhone 8" launch.
A high-profile Apple stock analyst has suggested virtually all of Apple's upcoming hardware pipeline could at least be previewed at WWDC, including the "iPhone 8" and an Apple TV with 4K. Needless to say, that's highly unlikely.
In the terms of their new patent dispute resolution, Nokia revealed it will be providing network infrastructure products to Apple — a partnership that one Wall Street analysts could see Nokia significantly grow its IP router business by supplying Apple's datacenters.
The 3D laser scanning module that may make an appearance on the "iPhone 8" raises a number of questions, and a new report attempts to shed some light on the subject, including what model of iPhone it might appear on this year.
While a $14.5 billion payment of back taxes could bankrupt many major corporations, it's pocket change for a company as cash flush as Apple. As a result, analysts surveyed by AppleInsider on Tuesday said they aren't concerned about the European Commission's decision, regardless of how an appeal ultimately plays out.
For the first time ever, Apple will be competing in the $400 smartphone range with its most affordable new iPhone model ever, and one Wall Street analysts believes that could net the company 17 million additional sales this year alone.
Analysts on Wall Street expect the new 4-inch "iPhone SE" may be priced at $450, taking the place of the entry-level iPhone 5s. But if Apple were to keep the iPhone 5s around at a cheaper price, it could allow the company to tap into new markets.
Concerns that the iPhone 6s upgrade cycle could post first-ever year over year sales declines were alleviated this week, when Apple indicated it expects iPhone sales will grow yet again this holiday quarter. Analysts on Wall Street reacted to the news positively, advising investors to buy in.
A revamped Apple TV with its own App Store downloads could enter Apple into the $35-billion-per-year gaming market, adding an estimated 3.3 percent to the company's 2016 earnings per share, J.P. Morgan believes.
Investment firm J.P. Morgan believes sales of the Apple Watch will see a boost from two key events this fall — the launch of watchOS 2 with support for native third-party apps, and a retail expansion to all Best Buy locations.
Though the new Apple TV isn't expected to have a streaming subscription service available at launch, that's not a problem for investment firm J.P. Morgan, who believes the device's real selling point will be an App Store with traditional console-style videogames.
If the European Commission were to levy a 12.5 percent tax on all of Apple's earnings that run through Ireland, it would reduce the company's annual earnings by just under 10 percent, a new "worst-case scenario" analysis has found.