Source: Apple What you need to know Goldman Sachs’ has finally upgraded its Apple stock rating from ‘sell’ to ‘neutral’. It comes following Apple’s bumper Q2 earnings posted Wednesday. GS says its prediction the iPhone 12 would disappoint was “clearly wrong”. Goldman Sachs’ has upgraded its Apple stock rating to ‘neutral’ after more than a year of labeling it as ‘sell’ in the wake of the Cupertino Company’s bumper earnings announcement Wednesday. From Yahoo Finance : After a blowout quarter from tech giant Apple, Goldman Sachs’ long-time bearish analyst covering the stock is admitting defeat. A note from GS analyst Rod Hall reportedly stated: We are upgrading our rating from Sell to Neutral after Apple posted another large beat and implied a raise vs. our June revenue expectations. Our original view that the iPhone cycle would disappoint in the midst of COVID was clearly wrong. Not only has Apple done better than we expected on iPhone during the cycle but Mac and iPad have also materially outperformed our forecasts According to the report, Hall also noted that since he added Apple to Goldman’s Americas Sell List last April, the stock has climbed by 86%, outstripping the S&P 500’s growth of… Read full this story
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