Goldman Sachs predicted that Apple could lose more than half of its value of 2020 in a new note to clients (via 9to5Mac). In the note, seen by Business Insider, chief US equity strategist David Kostin said that Apple stock could fall to $192 a share during the year, a drop on 34.6%.
AAPL Set For a Fall, Says Goldman Sachs
Mr. Kostin suggested that Apple’s stock had risen to high. Just the other day it cleared the $300 a share point. He also said that its earnings growth over the coming few years did not look particularly impressive. “In 2019, Info Tech returned 50%, the best of any sector, and accounted for 32% of the rise in the overall index. Only two other sectors, Financials (+32%) and Communication Services (+33%), outpaced the market,” wrote Mr. Kostin. Goldman Sachs is, of course, Apple’s partner on Apple Card.