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Apple (AAPL) stock has fallen after Needham’s Laura Martin lowered her forecast for the stock, reflecting concerns and sluggish iPhone sales in China. This forecast is offset by slightly higher iPad and Mac sales, and Needham analysts remain bullish.
Julie Hyman and Josh Lipton break down Apple’s sales forecasts.
For expert insights and the latest market trends, click here to watch the full episode of Market Domination.
This article was written by Gabriel Roy.
video transcript
Julie Hyman: Apple stock is falling today. Over there, Needham Laura Martin came out with a note lowering the tech giant’s forecasts amid concerns over iPhone sales and weakness in China. Now, this is something that has been attracting a lot of attention lately. The stock fell a further 1.6% today. And they’re basically acknowledging what they’ve said before, that there are concerns about iPhone sales and weakness in China. However, Laura Martin said that was offset slightly by slightly higher than previously expected revenues for iPad and Mac.
However, she said she would lower those estimates.
Josh Lipton: Yeah. She remains strong. He also did not change her price target. That’s 220. But she’s just, in her own words, Apple’s anemic or negative growth outlook. And the cost of funding GenAI is expected to increase. She says that prevents new investors from entering at these levels. Even though Julie’s stock price is currently down about 12% this year.
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