The markets always consist of differing views on companies — no single person has perfect information.
This rings home as KeyBanc Capital Markets sounded a bearish call on Apple's (AAPL) ahead of its earnings report this Thursday.
Quick insight: KeyBanc ****** yst Brandon Nispel reiterated an Underweight rating, or Sell, on Apple stock today. With a $250 price target, he expects Apple stock to plunge about 26% from current levels.
"With Apple providing a safe haven to the sell-off in semis, we think they are missing the bigger picture, which squarely fits our thesis: as Apple raises iPhone prices, unit growth will slow, and as unit growth slows, so will user growth, which we think ultimately will slow Services growth," Nispel said in a note.
"In addition, with Apple trading at ~34x P/E, and a growth profile that is shifting from volume-led growth to pricing-led growth, we think investors should apply a lower valuation multiple. To us, this makes Apple overvalued at current levels," he explained.
#Apple #sell #current #levels
This rings home as KeyBanc Capital Markets sounded a bearish call on Apple's (AAPL) ahead of its earnings report this Thursday.
Quick insight: KeyBanc ****** yst Brandon Nispel reiterated an Underweight rating, or Sell, on Apple stock today. With a $250 price target, he expects Apple stock to plunge about 26% from current levels.
"With Apple providing a safe haven to the sell-off in semis, we think they are missing the bigger picture, which squarely fits our thesis: as Apple raises iPhone prices, unit growth will slow, and as unit growth slows, so will user growth, which we think ultimately will slow Services growth," Nispel said in a note.
"In addition, with Apple trading at ~34x P/E, and a growth profile that is shifting from volume-led growth to pricing-led growth, we think investors should apply a lower valuation multiple. To us, this makes Apple overvalued at current levels," he explained.
#Apple #sell #current #levels
2 months ago
