Skip to main content

Market Overview

Goldman Sachs Feels Positive on Apple Following Signing of China Mobile Deal

Share:

In a report published Monday, Goldman Sachs analyst Bill Shope reiterated a Buy rating and $620.00 price target on Apple (NASDAQ: AAPL).

In the report, Goldman Sachs noted, “Given Apple's steep wholesale prices in China for the iPhone, we believe subsidy levels will be key to determining steady-state volume levels. With that said, this deal gives Apple access to a growing smartphone installed base at China Mobile, which currently stands at 170 million 3G customers. We believe this could add another 15-20 million units to Apple's annual iPhone shipments, and potentially boost CY2014E EPS by more than 5%. From a nearer-term perspective, the January 17th release date raises two important issues: 1) this tells us that Apple's surprisingly strong December quarter revenue guidance likely included very little China Mobile channel fill, and 2) this suggests that the seasonally weak March quarter will enjoy a sharp tailwind from the China Mobile ramp. These near-term factors likely diminish the shorter-term bear cases for the stock. We reiterate our Buy rating and 12-month target price of $620 on Apple.”

Apple closed on Friday at $549.02.

Latest Ratings for AAPL

DateFirmActionFromTo
Mar 2022BarclaysMaintainsEqual-Weight
Feb 2022Tigress FinancialMaintainsStrong Buy
Jan 2022Credit SuisseMaintainsNeutral

View More Analyst Ratings for AAPL

View the Latest Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Posted-In: Bill Shope Goldman SachsAnalyst Color Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com