Goldman Sachs worried about Apple’s future, reduces outlook

Goldman Sachs worried about Apple’s future, reduces outlookApple continues to punt a fairly ridiculous volume of iPhones and iPads, but it’s the future that has analysts worried, with the loss of Steve Jobs, increasingly stiff competition from the likes of Samsung, and shrinking margins and what not.

Jumping on the doom and gloom bandwagon, Goldman Sachs is the latest to voice its concerns in a tear-stained note to investors.

Ultimately, Goldman Sachs has removed Apple from its favoured companies, known as “Americas Conviction List”.

The firm writes: “Based on Monday’s close, AAPL has gained 33.8% since being added the Conviction List on December 12, 2010, versus a 25.9% gain in the S&P 500.

“Our new 12-month target price is $575, from $660 previously, based on a 13X multiple (previously 14X) on our lowered CY2013 EPS estimate of $44.64 (previously $47.29).”

Apple shares hit a record high of $702.10 in September ahead of the iPhone 5 launch, and the Californians went on to sell 47.8 million iPhones and 22.9 million iPads in Q4, a feat that saw share prices drop by 11%. Go figure.

Clearly Cook & Co will have to pull something truly impressive out of the bag to get the analysts back on side. Maybe the Apple iWatch will do the trick.

via: BGR

Read more about: iOSApple iPad 4Apple iPad miniApple iPhone 5

Add a comment
 1 comment

JanSt / MOD  Apr. 4, 2013 at 16:08

Makes you wonder....

And also: why are those scammers of Goldman Sachs allowed to 'think' in public without a health warning?????????????????????

Oh, right.... I forgot:


You don't need an account to comment. Just enter your email address. We'll keep it private.