Search
EN Down
Language
Hi, user_no_name
Live Chat

Apple Stock Photo

 

Apple shares fall after Piper Sandler becomes second investment bank to downgrade AAPL stock in 2024 

Just four days into 2024, Apple shares have received their second downgrade of the year. 

Piper Sandler analyst Harsh Kumar downgraded his rating on the tech giant from overweight to neutral, citing concerns about valuation and pressures in the smartphone market.  

Kumar said he was worried about handset inventories in the first half of the year, predicting that growth rates for unit sales have peaked — a significant concern as iPhones make up about half of Apple’s revenue. 

Despite posting growth in the iPhone market segment in the September quarter, sales for the category declined in two of the four quarters of Apple's latest fiscal year. Kumar also raised concerns about China's "deteriorating macro environment" impacting the handset business and noted potential distractions for investors with legal issues surrounding the Apple Watch and other areas. 

With Apple shares trading at approximately 29 times forward earnings, above the five-year average multiple of around 24, Kumar lowered his price target from $220 to $205 in the latest report. 

 

Choose your points of movement

Сalculate your hypothetical P/L (aggregated cost and charges) if you had opened a trade today.

Market

Shares Search
Shares
Index
Commodity
Bonds
Crypto
ETFs
Currency

Instrument

Search
Clear input
Occidental
Prosus N.V.
Porsche AG
Hermes
CAT
Thermo Fisher
Nikola Corporation
Tilray
Shell plc (LSE)
Skillz Inc
Iberdrola
DeltaAir
CrowdStrike Holdings
Golar LNG
Applied Materials
Snowflake
Royal Bank Canada
Amazon.com
Spotify
Exxon Mobil
CCB (Asia)
McDonald's
Campari
GameStop
Netflix
ON Semiconductor
Costco
Dave & Buster's
Delivery Hero SE
LUCID
Continental
SunPower
Zoom Video Communications
Schlumberger
Virgin Galactic
Upwork Inc.
Cameco
JP Morgan
Fuelcell
Rivian Automotive
XPeng Inc
Wal-Mart Stores
Trade Desk
Blackstone
Vodafone
Aptiv PLC
L'Oreal
Target
Rio Tinto
Sartorius AG
British American Tobacco
Qorvo
ASOS
Cisco Systems
Nel ASA
Arista
Airbus
Apple
Pfizer
AMC Entertainment Holdings
ASML
Hubspot
Teladoc
Starbucks
SMCI
Canopy Growth
Wish.com Inc
Lockheed Martin
ProSiebenSat.1
IAG
AbbVie
Marston's
Baidu
Teleperformance
Norwegian Air Shuttle
Airbus Group SE
HSBC HK
Block
Annaly Capital
Abbott
LVMH
American Express
Novavax
GoPro
Siemens
Total
SIG
Pinterest Inc
Taiwan Semi
Etsy
Amgen
SONY
3D Systems
UPS
Yandex
BlackBerry
Gen Digital Inc
Xiaomi
Quanta Services
Unity Software
NVIDIA
Anglo American
Palantir Technologies Inc
Fresnillo
Deere
Rolls-Royce
Porsche
Uber
Vir Biotechnology
American Airlines
ROBLOX Corp
Macy's
FirstRand
easyJet
DISNEY
Aurora Cannabis Inc
BP
Adidas
Boeing Co
Vonovia
Coca-Cola Co (NYSE)
Home Depot
General Electric
Coinbase Inc
ALIBABA HK
Philip Morris
General Motors
PayPal
UniCredit
II-VI
BASF
Kraft Heinz
Alphabet (Google)
Palo Alto Networks
Evraz
Plug Power
Li Auto
Oracle
Roku Inc
UiPath Inc
Upstart Holdings Inc
F5 Networks
Infinera
Inditex
ZIM Integrated Shipping Services Ltd
Deutsche Bank
Hammerson
IBM
JD.com
Barrick Gold
TUI AG (LSE)
Lemonade
MerckCo USA
Infosys
Invesco Mortgage
Comcast
Santander
Accenture
Anheuser-Busch Inbev
Visa
Mastercard
Ozon
T-Mobile
SAP
Wayfair
Beyond Meat
Kuaishou
CarMax
Tesla
Lyft
Medtronic
Adobe
Morgan Stanley
Workday Inc
Blackrock
Vipshop
Meta (Formerly Facebook)
Linde PLC
Micron
Lululemon
Ceconomy
Chipotle
Gilead
Avacta
Naspers
Bristol Myers
Samsung
The Cheesecake Factory
Glencore plc
British American Tobacco
ChargePoint Holdings Inc
Twilio
Intel
Lloyds
CNOOC
Electrolux
Wells Fargo
Sea
PG&E
Fedex
Citigroup
Peloton Interactive Inc.
eBay
Microsoft
JnJ
Bilibili Inc
Trump Media & Technology Group
AIA
Nasdaq
Air France-KLM
Allianz
Lithium Americas Corp
Procter & Gamble
Qualcomm
AMD
New Oriental
MercadoLibre.com
Mondelez
Lumentum Holdings
Two Harbors Investment aration
AstraZeneca
Norwegian Cruise Line
Unilever
GoHealth
PepsiCo
Barclays
PETROCHINA
Goldman Sachs
Eli Lilly
HSBC
Cellnex
Berkshire Hathaway
Jumia Technologies
HDFC Bank
RTX Corp
Bayer
Bank of America
Chevron
ADT
DoorDash
Marriott
Nike
AT&T
GSX Techedu
Robinhood
Telecom Italia
Deliveroo Holdings
TUI
Freeport McMoRan
Toyota
BioNTech
Airbnb Inc
Alibaba
Verizon
Nio
Eni
Ford
Hanesbrands
Volkswagen
UnitedHealth
Shopify
China Life
Snap
Christian Dior
Conoco Phillips
Lufthansa
Tencent
Moderna Inc
Salesforce.com
Broadcom
Diageo
Toro
Cinemark

Account Type

Direction

Quantity

Amount must be equal or higher than

Amount should be less than

Amount should be a multiple of the minimum lots increment

USD Down
$-

Value

$-

Commission

$-

Spread

-

Leverage

-

Conversion Fee

$-

Required Margin

$-

Overnight Swaps

$-
Start Trading

Past performance is not a reliable indicator of future results.

All positions on instruments denominated in a currency that is different from your account currency, will be subject to a conversion fee at the position exit as well.

 

Apple stock downgrade: Piper Sandler follows Barclays in lowering share price target 

This downgrade follows one from Barclays analyst Tim Long on Tuesday, who shifted to an underweight rating from a prior rating of neutral. Apple shares were down 0.7% at $180.60 in premarket trading Thursday after declines in the previous three full trading days. 

The Apple share price is now down over 5.5% year-to-date, after growing by over 40% over the past year. 

Kumar also downgraded shares of Microchip Technology (down 1.38% at the time of writing), Macom Technology Solutions Holdings (-3.46%), Qorvo Inc. (-2.55%), Skyworks Solutions (-1.89%,) and Akoustis Technologies (-2.74%) to neutral from overweight, reflecting his concerns about the smartphone market. 

However, Kumar took a positive stance on shares of Micron Technology Inc. (+0.55%), citing potential for accelerated pricing benefits. He noted that South Korean rivals cutting production should help rebalance industry supply and demand. Micron’s stock was up about 1% in Thursday’s premarket action as Kumar upgraded his rating to overweight from neutral, with a raised price target of $95 from $70. 

Apple share price forecasts: Majority of analysts remain bullish on AAPL 

According to 31 analysts surveyed by TipRanks that offered 12-month Apple share price targets, the consensus forecast for AAPL shares last stood at $202.50 — a potential 11.32% upside from its current price as of January 5, 2024. 

The highest listed Apple share price forecast on the platform was $250.00, while the lowest was listed at $150.00. Of the 31 analysts surveyed, 22 offered a Buy rating on APPL stock, while 8 had it as a Hold, and one gave it a Sell rating. 

When considering shares for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.  

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. 

Latest news

Wall Street bets on blowout quarterly Nvidia earnings report

Monday, 20 May 2024

Indices

Wall Street bets on stellar Nvidia earnings on Wednesday

Shares, yields, oil broadly higher as copper, gold price hit new highs

Sunday, 19 May 2024

Indices

Stocks, yields, oil climb as copper and gold price hit highs

Nvidia earnings report comes amid resurgence in meme stocks

Thursday, 16 May 2024

Indices

Week ahead: Nvidia earnings come amid return of meme stock mania

Dow Jones index touches 40,000 but indices dip

Thursday, 16 May 2024

Indices

Dow Jones index touches 40,000 but stocks ease back

Live Chat