Apple at $148: Look who’s underwater now

Spoiler alert: It’s Goldman Sachs’ Rod Hall and New Street’s Pierre Ferragu.

Below: My full list of Apple price targets, as accurate and up-to-date* as I can make it. Corrections appreciated.

analysts underwater 148
Click to enlarge. I rely on *TipRanks ($) for the estimates of an analyst who shall remain nameless (long story).

My take: Some of these targets are not done falling.

See also: Watch the Apple sell-side analysts duck for cover.

Below: Here’s Ferragu last week on CNBC explaining why he lowered his Apple price target while raising his rating.

9 Comments

  1. David Drinkwater said:

    Does “date” imply that the associated target was actually updated or reiterated on January 3? If not, the “date” metric is not fully valid.

    0
    January 6, 2019
    • “Does “date” imply that the associated target was actually updated or reiterated on January 3?”

      They were all updated after Apple’s 1/2/18 warning, although I didn’t assemble them until 1/3. I dropped from the spreadsheet any analyst I hadn’t heard from by then.

      Oh, one exception: Rosenblatt’s Zhang stood pat at $165, so that was a reiteration, not an update.

      0
      January 6, 2019
  2. Gregg Thurman said:

    I owe Ferragu a great big apology.

    With his first AAPL price target of $165 I thought him a colossal idiot.

    With the clarity of hindsight and this interview, I find him very rational and believeable.

    In the future I will be giving his analysis high consideration, because I believe he is actually analyzing the data and not just participating in an echo chamber.

    1
    January 6, 2019
  3. Gregg Thurman said:

    Two things in his interview stand out for their lack of coverage by WS: China’s slowing economy (year long) and how the iPhone X (like the iPhone 6 before it) pulled sales forward.

    Couple those two items with the strengthening of the US$ against foreign currencies and you have a perfect storm.

    That Apple has come through this relatively unscathed (when compared to the Android market) speaks highly of demand for Apple products, and has little to nothing to do with a broad rejection of Apple’s product pricing.

    1
    January 6, 2019

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