Apple Stock: Wall Street Doesn’t See Much Upside in April 2019


Apr. 1 2019, Published 4:30 p.m. ET

Apple stock

According to recent data compiled by Thomson Reuters, a total 40 analysts were covering Apple (AAPL) as of April 1. Fourteen recommend a “strong buy” on the company while seven rated the stock a “buy.” Eighteen recommend a “hold” on the stock while only one analyst rated the stock a “sell.”

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Analysts’ consensus price target

Currently, Wall Street analysts’ consensus price target on Apple stock is $191.42. Although analysts’ current consensus price target for Apple is near a high since January 3, it doesn’t reflect any major upside potential from its Friday closing of $189.95.

What to watch in Q2

During its March 25 event, Apple announced many new services, which many analysts believe lacked key details—including pricing for some services and launch timelines for others.

Goldman Sachs analyst Rod Hall called Apple’s recent announcements “materially different” than anticipated, which shouldn’t have much impact on the company’s earnings in the short term, “with the possible exception of” Apple’s gaming subscription services.

Moving forward in the second quarter, Apple is likely to face tough questions from investors and analysts alike about more details for the new services and their expected contribution to total revenues and profitability. The lack of detail might hurt investor sentiment, which could drive the stock lower.

On a macro level, the US-China trade deal is also likely to remain in focus as a further delay in finalizing a trade deal could worsen the situation for Apple and make its problems in China even more of a headache.

At the end of February 2019, AAPL made up about 9.61% and 3.34% of Invesco QQQ Trust (QQQ) and the SPDR S&P 500 ETF’s (SPY) total portfolios, respectively.


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