5 Apple analysts bearish
While Apple is the “king” of large-cap companies, the number of bearish street analysts has also increased the most, according to the CNBC.
At the beginning of the year, no Street analysts rated Apple stock as a sale. According to Bespoke, the value is now five.
Research companies that devalued the stock included Maxim Group and Rosenblatt Securities. The two companies fear that iPhone sales could disappoint in 2020 and also highlighted the trade-related uncertainty.
Apple’s changing revenue mix
Apple’s stock was supported by a positive shift in narratives as the company diversified away from iPhone sales and toward services and portable devices, according to CNBC.
Combined with other investments and initiatives in Apple TV, Watch and Airpods, the company was able to offset part of the loss of revenue from the declining demand for smartphones.
Deutsche Bank Neutral on Apple
Deutsche Bank analyst Jeriel Ong has a hold rating for Apple’s stock. It expressed two areas of concern, according to the CNBC.
First, Apple’s stock price is already causing “significant” earnings increases. Second, the incremental valuation improvements in 2020 “after a sharp rise this year are not likely to be a major lever for the stock,” he said.
Apple shares fell slightly last Friday at $ 289.80.
Latest ratings for AAPL