Analysts slash Apple stock price target — 2022
Most analysts have been very pessimistic after thetim cook explanationsof what was going to happen in the presentation of results of Q1 2019. The stock market opened yesterday in the red for Apple with a drop in the value of the stock of almost 10% , paying just over $142 per share, something not seen since the summer of 2017.
Although sales of the new iPhone have remained stable in Europe and the United States, the collapse in China has been carried over to a downgrade of Apple's forecasts when it comes to its quarterly revenue. The effect it has had has been categorized by some analysts as 'Apple's darkest day of the iPhone era.'
We are facing the 'darkest day of Apple in the era of the iPhone'
As we have said, the impact on the share price has been immediate and the company's stock market value has plummeted, moving further and further away from the billion dollars they raised a few weeks ago. To give you an idea Apple has lost 450,000 million in 3 months.
Major US analysts have cut their share price forecasts. They currently look like this:
- Goldman Sachs from $182 to $140.
- Citi from $200 to $170.
- BMO from $213 to $153.
- Bank of America Merrill Lynch de 220$ a 195$.
- Nomura from $185 to $175.
- Wells Fargo from $210 to $160.
- Morgan Stanley from $236 to $211.
We can see that there are real ups and downs in these forecasts, with analysts believing that the stock will stay at $140 and others who are much more optimistic that it will reach $211. It is clear that It is not known how the stock market will react to these new Apple forecasts and also we must remember how volatile the values in the United States are currently.
Goldan Sachs is one of the most pessimistic analysts stating that e he iPhone is becoming a real luxury and that is why consumers are reluctant to upgrade their old iPhone, keeping their equipment for several years and not changing it year after year. The data says something that Tim Cook did not say in his statement, the prices of the iPhone in these 10 years have risen between 60 and 90%, will they take good note of this even if it is behind closed doors?
From Longbow they have not wanted to give a forecast of the target price of the share for the future but they believe this drop in demand could be permanent. If this demand stagnates in this way, Apple would not be prepared to resist since their income from other products such as Services or the Apple Watch, although they increase, is still quite low. As we have said on several occasions, Apple should have made sure to maintain its stability on various products and not only on the iPhone.
In my opinion, this period of crisis for Apple will be good for consumers since the company will come down from its cloud at last to return to earth and launch products at a moderately affordable price.
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