United States  

Apple Downgraded By BoA

Video Credit: Wochit News - Duration: 00:34s - Published
Apple Downgraded By BoA

Apple Downgraded By BoA

On Wednesday, Bank of America analysts downgraded Apple, Inc.

To BoA, Apple's surging stock price doesn't present the strong risk-reward profile it once did.

BoA downgraded Apple to "neutral" in a note.

It said Apple's recent rally to record highs faces too many risks to recommend buying more shares.

Business Insider said Apple's future performance could slip if 5G iPhones miss expectations or sell worse than estimated.

Services may also shrink after several quarters of "unsustainable" growth.


You Might Like


💡 One News Page Knowledge: Other News Mentions

Bank of America Bank of America American multinational banking and financial services corporation

BOA Boosts Third Quarter GDP Growth [Video]

BOA Boosts Third Quarter GDP Growth

Economists at Bank of America lifted their forecast for third-quarter US GDP growth to 27% from 15% on Friday. Business Insider reports better-than-expected trends in retail sales, the housing market, and hiring. BoA lowered its fourth-quarter projection to 3% from 5%. Failed stimulus negotiations are growing increasingly likely. No new aid could be a speed bump for the American economy. BoA made the adjustment after Senate Democrats blocked Republicans' $500 billion measure on Thursday.

Credit: Wochit News    Duration: 00:38Published
BoA: Upgrades Tesla [Video]

BoA: Upgrades Tesla

On Friday, Bank of America upgraded Tesla to "neutral" from "underperform." It raised its price target to $1,750 from $800. The firm's new price target implies an 8% upside for Tesla shares over the next year. Business Insider reports that shares of Tesla ticked up as much as 4% on Friday. Morgan Stanley also boosted its price target and rating on the automaker.

Credit: Wochit News    Duration: 00:28Published
BoA: Reasons To Buy Discount Store Stocks [Video]

BoA: Reasons To Buy Discount Store Stocks

Business Insider reports that banks' and tech giants' earnings largely impressed Wall Street. Bank of America says discount stores are set to post similarly positive results, according to Bank of America. BoA analysts expect the sector's second-quarter figures to hold strong thanks to rising food sales and improvement in general merchandise revenue. Thanks to momentum in higher-profit categories and successful online operations Walmart, Target, and Dollar Tree are in good positions.

Credit: Wochit News    Duration: 00:50Published
Buffett's Apple Stake Triples In Value [Video]

Buffett's Apple Stake Triples In Value

Warren Buffett's investment in Apple has tripled in value to north of $100 billion. Buffett's Berkshire Hathaway spent about $35 billion to build the 5.7% stake in Apple The 10% rise in Apple's stock price on Friday boosted its value to about $104 billion. Business Insider reports that Berkshire's Apple position is now worth more than four times its second-largest holding, Bank of America. Industry analysts call Buffett's investment into Apple "one of the best investments ever."

Credit: Wochit News    Duration: 00:28Published

Apple Inc. Apple Inc. American technology company

Gwyneth Paltrow poses for Instagram photo in 'nothing but my birthday suit' to celebrate turning 48

Gwyneth Paltrow celebrated her 48th by posing in her birthday suit for an Instagram photo. Daughter Apple and Courteney Cox responded to the post.

USATODAY.com

Apple temporarily drops App Store fee for online events

Tech giant suspends its 30% charge for businesses that use the company's app platform to sell online events.
CBS News

Apple Watch Series 6: Is it worth it to upgrade?

At the core of the model upgrade is a blood oxygen sensor, which Apple stresses isn't a medical tool. We tried it out.

USATODAY.com

Current state of technology and social media in the U.S.

Facebook announced the removal of hundreds of Russian-linked accounts, pages and groups. The Justice Department is trying to force big tech to take..
CBS News
Apple critics unite to challenge App Store fees [Video]

Apple critics unite to challenge App Store fees

A group of Apple's critics - including Spotify Technology, Match Group and "Fortnite" creator Epic Games - have joined a nonprofit group that plans to advocate for legal and regulatory action to challenge the iPhone maker's App Store practices. Fred Katayama reports.

Credit: Reuters Studio    Duration: 01:10Published

Tweets about this