HSBC cuts Apple price target
January 9, 2019 by Steven M. PetersFrom a note to clients by analyst Erwan Rambourg snagged by TheFly:
HSBC analyst Erwan Rambourg, who had downgraded Apple shares to Hold from Buy on December 4, said that although he had expected challenges for Apple in China, the intensity has “surprised to the downside.” Given that the China situation remains complex, and patent disputes adds to the headwinds, he lowered his revenue estimates for 2019-21 by 5%-7% and cut his net income estimates by 8%-9%. Meanwhile, the iPhone’s longer replacement cycle may hamper shipments in developed markets, said Rambourg.
Maintains Hold rating, cuts price target to $160 from $200.
My take: Not an analyst I know. Waiting for the note.
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.