Goldman Sachs sticking with $142 target on Apple

From TheFly, which snagged Rod Hall's note:

Goldman Sachs analyst Rod Hall keeps his Neutral rating and $142 price target on Apple shares heading into earnings. The company's iPhone business should see positive results with upside risk to his December numbers, but retail sales data and Chinese CAICT data suggest slower momentum in the month of December, the analyst tells investors in a research note. Hall adds that while this may be linked to consumers purchasing earlier than normal in the quarter, it may also drive more cautious commentary from Apple looking into the March quarter.

Maintains Neutral rating and $142 target. 

My take: Barron's had this yesterday. See Erik Savitz's take. I've asked to see the note.

6 Comments

  1. Daniel Epstein said:
    Still a half empty kind of guy when it comes to Apple. Given the recent action in the market it is clear someone else (almost anyone else) has a better feel for the stock price of Apple than Rod Hall. He should at least have the courage to call it a sell if he believes his own price target. Or does he think down 20% from the all time high is market perform.
    I will say many of the recent upgrades of Apple Price Targets to 200 per share or more have gotten no respect in price action so one shouldn’t believe the analysts are very good at calling the price of the stock in the short term.

    0
    January 26, 2022
    • Alan Birnbaum said:
      Rod Hall – a True Contrarian Patriot /s

      0
      January 26, 2022
  2. Robert Stack said:
    PED’s take: “Barron’s had this yesterday. See Erik Savitz‘s take. I’ve asked to see the note.”

    I’d say Hall’s note is a G Flat. Short for “Gee…flatus!”

    0
    January 26, 2022
  3. Robert Paul Leitao said:
    Please keep in mind Apple’s December quarter closed on Saturday, December 25th. All of the immediate post-Christmas revenue activity flowed into the March quarter. Indications suggest October and November were strong months for sales and I’m not sure about the accuracy of Mr. Hall’s sources because his December analysis conflicts with other information I’ve read and analysis published on Apple 3.0. Guidance is the “twin pillar” of Apple’s quarterly earnings reports and I’m expecting an impressive March quarter performance.

    1
    January 26, 2022
    • Michael Goldfeder said:
      @Robert: I’m thinking that Rod’s sources were the folks who count food trucks outside of the assembly plants. Flat tires notwithstanding, the food trucks just weren’t on site.

      1
      January 26, 2022

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