Apple: Goldman Sachs upgrades stock

(CercleFinance.com) - On Thursday Goldman Sachs upgraded its rating on Apple shares from "sell" to "neutral", after the technology giant announced quarterly results the day before that largely outpaced expectations.


"Our original view that the iPhone cycle would disappoint in the midst of COVID was clearly wrong", analysts say.

"Not only has Apple done better than we expected on iPhone during the cycle but Mac and iPad have also materially outperformed our forecasts", they add.

While it is more positive about the stock, the analyst explains that he prefers keep away from it for the time being because of estimates that he considers very difficult to establish in the current environment of a reopening economy.

Apple shares are currently up about 0.5% in early trading on Thursday.


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