Η Goldman Sachs issued a statement that investors should market their Apple stock before the pandemic really affects its bottom line, as its analysts downgraded its maker iPhone in the "sell" category on Friday.
The investment bank, which manages $ 1,8 trillion in assets, said it expects iPhone shipments to slow by 36% in the third quarter of this year.
On the other hand, the financial portal MarketWatch Reported that Goldman Sachs has revised its share target Apple Lossless Audio CODEC (ALAC), at $ 233 out of 250 and almost 20% below current prices.
AAPL$ was slightly lower at the open market of Friday, just under 2% in pixel time
Shipments of new Apple products will shrink as consumers continue to have their old devices for longer with the threat of recession, he explains Goldman Sachs analysts through Reuters.
Existing users will also tend to opt for less expensive Apple devices if they buy a new smartphone, the company said.
As for the future smartphones: According to information, the analysts of Goldman Sachs do not believe that Apple will release a new iPhone by the beginning of November as soon as possible, since the company's production processes have been frozen due to global restrictions.
This article does not give any investment advice and you should do your own research if you are considering selling your stock.
