Goldman Sachs downgrades Apple to sell

Apple pay

Goldman Sachs Group lowered shares of Apple (NASDAQ:AAPL) to a sell rating in a research report sent to investors on Tuesday, The Fly reports. The brokerage currently has $80.00 price target on the iPhone maker’s stock.

A number of other equities analysts have also recently commented on the company. Wedbush restated a buy rating and set a $150.00 target price on shares of Apple in a report on Monday. Barclays lifted their price objective on shares of Apple from $81.50 to $100.00 and gave the company an equal weight rating in a report on Friday, July 31st. Argus upgraded shares of Apple to a buy rating and increased their target price for the stock from $112.50 to $150.00 in a report on Monday, August 31st. Loop Capital boosted their price target on shares of Apple from $82.50 to $94.00 and gave the stock a hold rating in a research note on Friday, July 31st. Finally, ValuEngine cut Apple from a hold rating to a sell rating in a research note on Tuesday, September 1st. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. Apple presently has a consensus rating of Buy and a consensus target price of $101.41.

Apple stock opened at $112.82 on Tuesday. The company’s 50 day simple moving average is $112.87 and its 200-day simple moving average is $85.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.43 and a current ratio of 1.47. Apple has a 1 year low of $52.77 and a 1 year high of $137.98. The company has a market capitalization of $1,956.00 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 3.51 and a beta of 1.28.


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