“Slashing price targets. Seven of the roughly 50 Wall Street brokerage firms that follow Apple stock cut their price targets Thursday, says data from Briefing.com. Compare that with September 2012, when Apple shares were peaking and four Wall Street firms upped their price targets to an average of $757 a share. Prior to Thursday, another five analysts cut price targets in January. Analysts cut targets after price falls because they “want to look less silly,” says Sheraz Mian of Zacks Investment Research.”
“Taking down price targets by a big margin. The seven analysts who cut price targets Thursday took them down by 18% on average to $589 a share, Briefing.com data show. Deutsche Bank, for instance, slashed its price target on Apple from $800 a share to $575, a 28% cut. The average price target for Apple is now $641, down from $720 before earnings were released late Wednesday, says John Butters of FactSet.”
“Cutting their forecasts for earnings. It’s not just analysts’ forecasts for stock prices that are being cut, but their views on fundamentals such as revenue and earnings, too. In the one day after the earnings release, analysts have cut their forecast for Apple’s full-year profit by nearly 7% to $52.39 a share, Butters says.”
Now it’s your turn: what do you think about the future of Apple Inc. (NASDAQ:AAPL)?
Check back here for more updates on Apple Earnings Call.
DISCLOSURE: I have no positions in any stock mentioned.
For more news, visit these stories:
Apple Inc. Q1 2013 Conference Call Recap
AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount
Published on December 13, 2024 at by
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Seeking a Strong Gold Market Upside?
Published on December 19, 2024 at by
Brace yourself.
There’s no question that thanks to Washington’s disastrous policies – and out-of-control spending – the outlook for the U.S. economy now appears dire.
And with the U.S. national debt now rising by a staggering $1 trillion every 100 days…there are no easy solutions to help get the nation back on track.
While Jay Powell and the Biden-Harris White House sweat out a federal debt that has reached $35.5 trillion – and climbing – many investors have raced to the sidelines with their cash.
But the truly savvy investors laugh while Jay Powell frets, because they understand that this ridiculous spending has also triggered a nearly unprecedented bull market for gold.
Just look at this chart for the yellow metal.
After testing the $2,000/ounce mark in August 2020 and February 2022, gold traded down to near $1,600/ounce in October 2022.
Since then, gold prices have been on an absolute tear and currently sit above $2,600/ounce, a $1,000/oz increase in just two short years.
But the surge in gold prices that we’ve seen over the past few years could pale in comparison to what’s on the horizon.
As shocking as it may sound, with no end in sight for the Fed’s money printing, we could see the price of gold increase by many multiples in the years ahead.
With soaring inflation, the dollar stands to lose more and more of its value, which means you’ll need a lot more dollars to buy gold.
According to legendary investor Peter Schiff, today’s seemingly-high gold price of $2,600/oz. “could soar to $26,000/oz. — or even $100,000/oz. There’s no limit because gold isn’t changing — it’s the value of the dollar that’s decreasing.”[i]
Meanwhile, as profitable as gold has been, select gold mining stocks have really kicked into high gear, handing investors even bigger profits.