Technology
Goldman Sachs cuts Apple price target on Lumentum news
Published:
Last Updated:
Could be a bad sign. Could be a misread signal.
From a Rod Hall note to clients snagged by CNBC:
Goldman Sachs estimates Apple will produce 6 percent fewer iPhones next year than previously expected after key supplier Lumentum reduced its shipment outlook, according to a report Tuesday.
“We are concerned that end demand for new iPhone models is deteriorating,” Goldman said in the note. “We note this could easily right itself given the bulk of demand comes in late December but we feel more prudent sell through forecasts are warranted due to the timing and magnitude of this warning.”
Maintains Neutral rating, cuts price target to $209 from $222.
My take: I’m waiting to see the note.
See also: What the Apple press missed in Monday’s Lumentum story.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
