Apple Bulls See Long-Term Potential Despite Recent ‘Horror Show’
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Apple Inc. analysts expect continued volatility as the company grapples with the prospect of slowing iPhone sales and tariffs against mobile devices made in China, but they also see an opportunity emerging after the biggest monthly decline for the stock in more than a decade.
Wedbush analyst Daniel Ives cut his price target to $275 from $310 on Wednesday, the latest investment bank to do so on iPhone demand concerns. However, he affirmed his outperform rating and wrote that Apple remains one of its “favorite tech names heading into 2019 despite the horror show over the last month seen out of Cupertino.”