Apple stock has a near term-floor at $160 per share. That is according to analysts at Morgan Stanely (via Bloomberg News).
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.
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 industry and now any two-bit Android smartphone company can sell more smartphones than Apple can. How much market share percentage does Apple have now? 10%? 12%? Android OS is wiping the floor with iOS with an absolutely dominating 85%+ of the world’s smartphone market. Apple doesn’t even give a fig and they’ll keep charging consumers over $1000 per smartphone as sales continue to dwindle to nothing. I think Apple is happily on their way to being the next BlackBerry and they didn’t have to be this way.
It’s amazing how Apple didn’t even have an inkling of purchasing some decent cloud business where billions of dollars are just low-hanging fruit for companies like Amazon and Microsoft. Companies are just begging for cloud services while Apple is struggling just to sell a measly few million iPhones every quarter. Consumers are now showing their thumbs down for the iPhone and I wonder if Tim Cook even realizes it. Yeah, here comes that $160 floor for Apple stock and it seems like that floor is more like a slippery slope for a company that doesn’t have a clue on how to give investors confidence. I’ve held Apple stock since 2004 and have seen the good times and now the bad times. Please, Apple, don’t let Amazon and Microsoft shareholders simply have all the money you could have shared with Apple shareholders. Wake up, please. I’m sick and tired of hearing how Apple is doomed every year.