Apple touches $195: Look who’s underwater now

The usual suspects advised their clients to miss the latest run.

Since last Monday, when the DOJ knocked the air out of WWDC19, Apple’s had the wind at its back.

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

apple analysts targets 195

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

See also: Apple at $177.38: Look who’s underwater now

3 Comments

  1. Gregg Thurman said:

    If AAPL sold off it was because of the tariff war between the US and China (Trump announces tariffs May 5 AAPL drops ~$8 (intraday high $211.84 to intraday low $203.50) the following day). Then China announces retaliatory moves on May 12 and AAPL drops ~$8 the following day (intraday high $177.99 to intraday low $170.27) and continues going up to today’s intraday high of $195.37.

    On June 3 Cook announces (after market Close) that China has taken no action against AAPL and he doesn’t expect any. AAPL goes up ~$9 the following day (intraday low $170.27 to intraday high $179.83).

    It’s obvious that the market wasn’t near as worried about the DOJ as it was about an ongoing trade war with China. With that overhang apparently removed AAPL should trade inline with its April 30 guidance for the June quarter (more upside). However, historically (8 year average) AAPL swoons starting this week, bottoming July 4 week. With conflicting forces I don’t know how AAPL is going to trade between now and earnings. That said I’m optimistic that the prospects of a good earnings report with guidance for September quarter growth (however small) will continue to diminish any remaining China overhang.

    3
    June 10, 2019

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