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2023-03-07

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Why Apple Stock Can Rise Over 30%: Goldman Sachs Initiates First Buy Since 2017

Bank analyst: Market not focused on strength of tech company’s ecosystem

Why Apple Stock Can Rise Over 30%: Goldman Sachs Initiates First Buy Since 2017

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The world&#39;s second-largest investment bank initiated a ‘Buy’ rating on the maker of iPhones, iPads, and Mac computers.</p><p>Goldman set a 12-month target price of $199 per share, suggesting a possible gain of more than 33%.</p><p>Analyst Michal Ng said, &#34;Apple’s installed base growth, secular growth in services, and new product innovation should more than offset cyclical headwinds to product revenue, such as reduced demand in the iPhone, PC, and tablet categories,&#34;</p><p>&#34;The market’s focus on slower product revenue growth masks the strength of Apple’s ecosystem and associated revenue,&#34; he added.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70258cf3210f7085153558e1c2731289\" tg-width=\"1440\" tg-height=\"810\" width=\"100%\" height=\"auto\"/><span>Apple&#39;sThe Apple logo is illuminated at a store (AP Photo/Matthias Schrader / AP Newsroom)</span></p><p>Apple revenue fell 5% to $117.2 billion in the fiscal first quarter ended Dec. 31, 2022, though the company set an all-time revenue record of $20.8 billion in its services business.</p><p>Net income fell to $30 billion from $34.6 billion.</p><p>Apple shares have more than tripled since the last time Goldman had a buy-equivalent recommendation on Apple in 2017.</p><p>Meanwhile, risks to the bank’s prediction include weakening consumer demand, supply chain disruption, intensified competition, regulatory hazards and capital allocation execution.</p></body></html>","source":"lsy1602566126337","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Apple Stock Can Rise Over 30%: Goldman Sachs Initiates First Buy Since 2017</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Apple Stock Can Rise Over 30%: Goldman Sachs Initiates First Buy Since 2017\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-07 07:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.foxbusiness.com/markets/apple-stock-rise-30-goldman-sachs-initiates-first-buy-2017><strong>Fox Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Goldman Sachs is turning bullish on Apple. The world's second-largest investment bank initiated a ‘Buy’ rating on the maker of iPhones, iPads, and Mac computers.Goldman set a 12-month target price of ...</p>\n\n<a href=\"https://www.foxbusiness.com/markets/apple-stock-rise-30-goldman-sachs-initiates-first-buy-2017\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4504":"桥水持仓","BK4512":"苹果概念","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","BK4170":"电脑硬件、储存设备及电脑周边","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0072462426.USD":"贝莱德全球配置 A2","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0056508442.USD":"贝莱德世界科技基金A2","BK4554":"元宇宙及AR概念","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4553":"喜马拉雅资本持仓","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","BK4585":"ETF&股票定投概念","BK4507":"流媒体概念","BK4576":"AR","LU0109392836.USD":"富兰克林科技股A","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4575":"芯片概念","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","AAPL":"苹果","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4527":"明星科技股","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","BK4579":"人工智能","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4552":"Archegos爆仓风波概念","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓"},"source_url":"https://www.foxbusiness.com/markets/apple-stock-rise-30-goldman-sachs-initiates-first-buy-2017","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2317381101","content_text":"Goldman Sachs is turning bullish on Apple. The world's second-largest investment bank initiated a ‘Buy’ rating on the maker of iPhones, iPads, and Mac computers.Goldman set a 12-month target price of $199 per share, suggesting a possible gain of more than 33%.Analyst Michal Ng said, \"Apple’s installed base growth, secular growth in services, and new product innovation should more than offset cyclical headwinds to product revenue, such as reduced demand in the iPhone, PC, and tablet categories,\"\"The market’s focus on slower product revenue growth masks the strength of Apple’s ecosystem and associated revenue,\" he added.Apple'sThe Apple logo is illuminated at a store (AP Photo/Matthias Schrader / AP Newsroom)Apple revenue fell 5% to $117.2 billion in the fiscal first quarter ended Dec. 31, 2022, though the company set an all-time revenue record of $20.8 billion in its services business.Net income fell to $30 billion from $34.6 billion.Apple shares have more than tripled since the last time Goldman had a buy-equivalent recommendation on Apple in 2017.Meanwhile, risks to the bank’s prediction include weakening consumer demand, supply chain disruption, intensified competition, regulatory hazards and capital allocation execution.","news_type":1},"isVote":1,"tweetType":1,"viewCount":305,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":8,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}