Wall Street analysts have recently cut Apple’s short-term profit forecast.
Editor’s note: This article comes from Tencent Technology , reviewing Golden Deer.
According to foreign media reports, due to the global outbreak of the new crown pneumonia epidemic, Apple’s stock price closed down 2.12% on Monday, the stock price reached $ 224.37, and the market value fell below $ 1 trillion to $ 981.7 billion. Currently, only one company in the US stock market has a market value of more than $ 1 trillion.
Before, due to the new crown pneumonia epidemic, the supply chain of Apple products was greatly impacted. As a result, Apple decided to limit purchases on official websites around the world. Each customer can only purchase up to two iPhones of each model. Models subject to purchase restrictions are the current mainstream iPhone models, including iPhone 8, iPhone 8 Plus, iPhone XR, iPhone 11, iPhone 11 Pro, and iPhone 11 Max. At the same time, the new iPad Pro that was released last week has also been restricted. . Apple announced on Sunday that it has lifted purchase restrictions on the iPhone, new iPad Pro and new MacBook Air in other parts of the world, but has not lifted purchase restrictions in China.
Apple announced on March 14 that due to the global spread of the new crown pneumonia epidemic, it will close all retail stores outside Greater China until March 27. Apple issued a notice on the official website on March 17 stating that the company’s US retail stores have been closed and that it will “notice” when it reopens.
In addition to the decline in sales, Apple’s normal product launches have also been affected. Apple previously announced that WWDC 2020 (Apple Global Developer Conference) will be held online, which is also the first time that Apple Developer Conference has been held online in more than 30 years.
Wall Street analysts have recently lowered Apple’s short-term profit forecast. Investment bank Goldman Sachs analyst Rod Hall maintained Apple ’s “neutral” rating in Tuesday ’s research report and lowered its target price from $ 300 to $ 265. The analyst also lowered Apple’s performance forecast for the current fiscal year. The analyst said: “After Apple issued a statement, we lowered our expectations of domestic demand in China. However, we believe that the current situation requires us to be more cautious of global demand outside of China. Apple announced that it will close retail outlets outside of Greater China Highlights this. “
Earlier, analyst Daniel Ives of Wedbush said that many Apple investors have set their sights beyond the current fiscal year. Thanks to the 5G iPhone launched this fall, they expect Apple’s performance to recover in fiscal 2021. Avis said in the research report: “We believe that investors are beginning to move beyond the current abnormal 3-6 months to a more standardized fiscal year 2021 valuation framework.” The analyst said that the new crown pneumonia epidemic pandemic It is a tragic global “shock incident” crisis. Ives maintains an “outperform” rating on Apple stock and sets the target stock price at $ 400.
Samik Chatterjee, an analyst at JP Morgan Chase, said that before Apple decided to close its stores, store traffic had declined. In a research report, he said that during the new crown pneumonia epidemic, the consumer electronics giant faced the prospect of reduced discretionary consumer spending. However, the analyst believes that benefiting from the 5G version of the iPhone, Apple’s fiscal 2021 results will again exceed market expectations. The analyst maintained an “overweight” rating on Apple stock and set a target price of $ 350.