On July 25, Beijing time, Jeff Kvaal, an analyst at Wolfe research, said: “we don’t expect the 5g super cycle to emerge and oppose the valuation of independent services. We don’t think apple is a strong company benefiting from the popularity of the new crown.” Kvaal rated apple as underperforming, with a target stock of $315, down about 13% from its current share price. Last year, the order of the company’s [5va888] was in line with the potential supply chain of Kvaal
Apple shares are down 0.21% to $370.61 after falling nearly 4% at one time. The company will release its third quarter results on July 30, with revenue of $52.12 billion and earnings per share of $2.05.
Goldman Sachs also issued a report a few days ago, warning investors that they should “avoid” buying Apple shares because the share price is “unsustainable”.