Apple Stock Near-Term Floor is $160, Say Analysts

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Apple stock has a near term-floor at $160 per share. That is according to analysts at Morgan Stanely (via Bloomberg News).

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The analysts said they expected “shares to remain choppy,” in a new note to clients. “Near term, the greatest risk to Apple is that Chinese consumers meaningfully slow their purchases of Apple products, which would likely cause another round of estimate cuts,” they wrote. Morgan Stanley maintained its overweight recommendation on the stock. It also cut its target price from $231 per share to $240 per share.

Apple’s shares have lost value in the wake of the U.S. government’s move to ban Huawei, dropping by around 7% in the period following the decision. It is feared that China could retaliate by imposing a ban against its products. The stock closed the day Thursday at $178.30.

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Steffen Jobbs

This stock is totally sickening for loyal Apple shareholders. All that reserve cash Apple has had over the years and the company can’t get anything right. Look at Microsoft and Amazon keep rolling along and both those companies have blown right past Apple in value. It’s hard to believe Apple was once worth over $1.1 trillion dollars and look where it is now. A $160 floor for a stock that had a value of around $230 a share last year. What Tim Cook is doing for Apple is absolutely disgusting. Apple had a huge advantage to practically own the smartphone… Read more »