Monday , January 30 2023

Goldman reduces the price of Apple branded market signals


(Bloomberg) – Apple Inc. says the iPhone will face a sophisticated scenario of weak demand for iPhone in China and other emerging markets, with Goldman Sachs lowering its price for the third consecutive month.

Road Hall has lowered its target value from $ 222 to $ 209 to $ 182 at target price. Hall has a neutral rating of shares.

"In addition to the weak demand for Apple products in China and other emerging markets, the iPhone XR prices and functionality have not been used by outside non-US customers," the Holly wrote to clients.

A new reduction in the target price was made in part "to reflect the current movement in prices". Apple shares dropped by 20%, including a 4% drop in Monday since the start of October, and closed at a low level since July. At Tuesday's trading session, the additional document dropped by 2.8 percent, threatening to deploy Wall Street stock on the bear market.

Recently, fatigue has raised concerns about iPhone's demand. Several Apple vendors have recently downgraded their forecasts, while Wall Street Journal announced Monday that Apple has cut down production orders for three iPhone models in September.

According to Goldman, "the actual risks in the current quarter, when the quarterly forecasts for the current March have a real risk."

For the third time, Goldman has targeted Apple for the third time this month (1)

In an Initial Conversation: New York Ryan Vlastelica, [email protected]

Editor-in-chief: Catherine Larkin, [email protected]

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