Goldman Sachs raises Apple target to $182

From a note to clients by analyst Rod Hall that landed on my desktop Wednesday:

We believe Apple can deliver better than FactSet consensus revenue in the March quarter and guide inline for the June quarter based on a new country level model we are rolling out with this report. Our smartphone market checks indicate no further deterioration of demand in China though European consumer sentiment implies the possibility for worse demand there. As we look forward to the end of this year we see increasing potential for Apple to miss consensus expectations at the unit and potentially the ASP level. We are forecasting 61m iPhone shipments in Dec ‘19, up 3m from our previous estimate but still 6m below FactSet consensus. We also flag potential risk to FQ3 margins from the recent QUALCOMM settlement which took effect on April 1. We increase our 12-month price target … to reflect less short term downside as well as a change in our valuation methodology.

Maintains Neutral rating and raises price target to $182 from (Street-low) $140.

My take: About time.

8 Comments

  1. Ralph McDarmont said:
    Maybe if Rod Hall added another 80 or 100 bucks to his AAPL target price he would appear momentarily credible. Stay tuned for earnings.

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    April 24, 2019
  2. Michael Thompson said:
    Roderick the known multi-year purveyor of lies, disinformation, market manipulating calls and FUDD, is to be completely ignored. Your financial health relies on that. Goldman Sachs is not in business to offer you good free advice.

    A spreadsheet of ALL historical analyst calls by each analyst about Apple should be created. That spreadsheet would permanently debunk LYING LOSERS like: Aaron Rakers,
    Roderick Hall, Toni Sacconaghi, Tim Arcuri, Jeffrey Kvaal and most of the other known corrupt degenerates.

    How many years of being completely and quantitatively proven wrong, does it take to permanently ruin someone’s reputation. A 5 year market call spreadsheet by analyst can easily be created. That is what we’d call real journalism.

    If real questions were asked to Roderick about his historically horrific market calls, Roderick would slither back under the rock from whence he was born.

    1
    April 24, 2019
    • David Emery said:
      To me, the really interesting question is why the mainstream financial media hasn’t investigated the terrible performance of Apple financial analysts. That should be a significant story, but you only hear about it here…

      1
      April 24, 2019
      • Michael Thompson said:
        The mainstream financial media is complicit with the corrupt brokerages/analysts/banks.

        No other plausible answer can be arrived at.

        We’ll likely hear from CNBC’s favorite muppet sounding puppet on a string Toni Sacconaghi, shortly before earnings come out next week. Toni is “Apple’s Top Analyst” (CNBC Chyron) even though he’s proclaimed annually that Apple’s best days are behind it. I’ve made millions on Apple during that time period. Hopefully Apple’s best days continue to be behind it.

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        April 24, 2019
        • David Emery said:
          You may well be right, but that would certainly be worth a Pulitzer if some journalist could prove it.

          0
          April 24, 2019

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