Apple's Growth Engine Sputtering? Bullish Analyst Lists 4 Factors Behind Stock Downgrade
Portfolio Pulse from Shanthi Rexaline
KeyBanc Capital Markets analyst Brandon Nispel downgraded Apple Inc. (NASDAQ:AAPL) from 'Overweight' to 'Sector Weight', removing the previous price target of $200. The downgrade was driven by several factors including Apple's historically high stock multiples, challenges in U.S. sales, potential difficulties in international growth, and optimistic current estimates. Apple's stock ended Tuesday’s session down 0.78% at $172.40.
October 04, 2023 | 8:18 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Apple's stock was downgraded by KeyBanc Capital Markets due to several factors including high stock multiples, U.S. sales challenges, and optimistic estimates. The stock ended Tuesday’s session down 0.78% at $172.40.
The downgrade by KeyBanc Capital Markets, a major financial institution, is a significant event that could negatively impact investor sentiment towards Apple. The cited reasons such as high stock multiples and sales challenges could lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100