Atlantic Equities downgraded Apple on Tuesday, saying the run-up in the shares was mainly due to the much anticipated 5G cycle, but were now fully valued.
The firm lowered its rating to underweight from neutral while raising its price target to $275 from $235. "We believe upside potential from the 5G cycle is now more than fully priced in," Atlantic Equities analyst James Cordwell said. Shares of the company have increased more than 7% so far this year and are up over 111% over the last year. The"The stock's 50% relative outperformance over the last 12 months has been driven entirely by multiple expansion," the analyst said.
Apple shares fell slightly on Tuesday in the wake of the Atlantic call. There are only 7 analysts with a sell or underweight rating on the stock, according to FactSet. Meanwhile, 25 give the hot stock a buy rating and 11 say hold.
Pro Apple In a low rate environment, w PE 25 in high tech, Apple execution is outstanding, best management, data is new gold, the current world stripe our own private properties out of us, gene be patented, privacy be sold, but Apple insist it’s protection of customer data.
Hipster_Trader just the news required to hit 450
MrWhatElse_
Another clown analyst who probably missed out on the rise in apple claims it’s a sell. Ok see u at $375
Every time appl goes parabolic, it gets slaughtered. Good call imo
Dont listen to this! Apple will solve world hunger and reverse climate change.. buy now price target 850!
Apparently they didn’t listen to ReformedBroker I’m not selling my $appl.
A pin for popping?
Betcha 6G not price in!
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