Barclays PLC downgraded Apple from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $119.00 to $117.00 in a report on Tuesday, January 24th.
Shares of Apple closed Friday up 1.7% at $148.95, with a consensus analyst price target of $151.44 and a 52-week trading range of $89.47 to $148.98. Apple comprises approximately 1.8% of Davy Asset Management Ltd's holdings, making the stock its 23rd largest position.
Personally, I do not see Apple missing this opportunity.
Does anybody care about the current cycle?
Another upgrade for the iPhone is said to be glass backs.
And, indeed, that's how it has been playing out.
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Even though the Capitals possession numbers are dwarfing the Penguins, their inability to produce has left them out in the cold. Josh Archibald and Oskar Sundqvist were out there a long time, so it's a reasonable assumption they won't play tonight.
We have heard a number of rumors saying that the new 4.7 inch and 5.5 inch iPhone 8 handsets would launch in September and that the new OLED iPhone 8 would launch later on. Since the technology is only a patent, there's no guarantee if it'll ever make it into an iPhone. Apple's manufacturing costs are lower, or course, but the more expensive AirPods would add to the iPhone 8's price, or cut into Apple's margins.
The expectations around the next generation of iPhone models - particularly the premium OLED version - are an entirely different matter. This will essentially give the phone a more edge-to-edge display appearance and also help thin down on the bezels.
Apple shares touched more than $153.44 on Monday, giving it a market capitalisation of slightly over $800bn.
So, what's the risk, then?
Apple's "super-cycle" isn't as "super" as many investors expect, leading to investor disappointment and a potentially significant drop in the stock price.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. "We believe the market became overly negative on Apple for all the wrong reasons", White wrote. Retirement Planning Group now owns 10,507 shares of the iPhone maker's stock valued at $1,188,000 after buying an additional 44 shares during the period.