Barclays initiates Apple coverage with $192 target price

Like a submarine, analyst Tim Long launches from underwater.

The Fly had Wednesday’s note:

The analyst believes the company’s iPhone market share has peaked several years ago and its recent model launches have been “relatively unsuccessful”. He does not expect an upgrade cycle to come with the launch of September models and contends that 5G may not make a “meaningful difference” in 2020, warning that average selling prices will start to decline in 2020. Long adds that Services segment growth will also slow as pricing for some of the new offerings comes under pressure.

Initiates with Equal Weight rating and $192 price target. 

My take: Long comes to Barclays from BMO, where his last posted Apple price target was $153.

6 Comments

  1. David Emery said:

    Does anyone else wonder what criteria companies use to hire ANALysts? It’s pretty clear that a track record of accurate forecasting is not on their list.

    5
    August 8, 2019
  2. Fred Stein said:

    I hope he doesn’t get the bends.

    0
    August 8, 2019
  3. Mark Visnic said:

    Hedge fund relationships is a key criteria. Attract hedge fund trades in exchange for catalyzing volatility for them. It isn’t about forecasting accurately. And these people are not so incapable that they could misforecast so consistently.

    Understand that sell-side analysts get paid for attracting trades to the trading desk. Understand that hedge funds seek volatility.

    1
    August 8, 2019
    • David Emery said:

      And I suspect a big part of that is ‘business school babble’ – the ability to “talk the talk”.

      0
      August 8, 2019
  4. Ralph McDarmont said:

    How do clowns like Tim Long remain employed? In my line of work you get tossed out if you are wrong too many times.,

    0
    August 8, 2019
    • Aaron Belich said:

      Another comment somewhere… Analysts are there to feed the traders and the brokers collecting their handling fee (those that still have them).

      0
      August 9, 2019

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