iPhone XS and XS Max in silver, space gray, and gold.
Wall Street Analyst Says 'Buy the Dip' After Apple's Stock Price Steadily Declines in September
Since hitting an all-time high of $164.94 on September 1, Apple's stock price has steadily declined throughout the month. Apple's closing price of $150.55 on Monday represents a nearly nine percent decline in just under four weeks.
Despite some negativity surrounding the stock, one Wall Street analyst believes the recent skid is a buying opportunity.
"We believe concerns around the strength of this cycle are misplaced and we would be aggressive buyers of the stock during this correction," said Brian White, a longtime Apple analyst at investment banking firm Drexel Hamilton.
White believes the staggered launch of the iPhone 8 and iPhone X is confusing industry observers, who are perhaps worried by reports of shorter lines at Apple retail stores and lower adoption rates of the iPhone 8 and iPhone 8 Plus.
"We believe more consumers in the developed parts of the world will pass on the iPhone 8/8 Plus and buy the iPhone X," added White, in a research note obtained by MacRumors. "Those that are on the fence will likely wait to see the iPhone X."
White is one of the most bullish Apple analysts, with a lofty $208 price target for the iPhone maker. If the price were to rise that high, Apple would be over a trillion dollar company based on market capitalization.
Raymond James analyst Tavis McCourt also said Apple's recent pullback is a "trading opportunity." His survey indicated there could be higher demand for the iPhone X than the firm initially anticipated.
Apple's slide has held back the Dow Jones, which is still up around 1.5 percent since the start of September. But it's not the only tech stock in the red, as Amazon, Facebook, and Netflix all declined Monday.
By comparison, Apple's stock price was up nearly 5 percent over this same period in each of the past two years.
Apple is up over 1 percent in early market trading today.
Despite some negativity surrounding the stock, one Wall Street analyst believes the recent skid is a buying opportunity.
"We believe concerns around the strength of this cycle are misplaced and we would be aggressive buyers of the stock during this correction," said Brian White, a longtime Apple analyst at investment banking firm Drexel Hamilton.
White believes the staggered launch of the iPhone 8 and iPhone X is confusing industry observers, who are perhaps worried by reports of shorter lines at Apple retail stores and lower adoption rates of the iPhone 8 and iPhone 8 Plus.
"We believe more consumers in the developed parts of the world will pass on the iPhone 8/8 Plus and buy the iPhone X," added White, in a research note obtained by MacRumors. "Those that are on the fence will likely wait to see the iPhone X."
White is one of the most bullish Apple analysts, with a lofty $208 price target for the iPhone maker. If the price were to rise that high, Apple would be over a trillion dollar company based on market capitalization.
Raymond James analyst Tavis McCourt also said Apple's recent pullback is a "trading opportunity." His survey indicated there could be higher demand for the iPhone X than the firm initially anticipated.
Apple's slide has held back the Dow Jones, which is still up around 1.5 percent since the start of September. But it's not the only tech stock in the red, as Amazon, Facebook, and Netflix all declined Monday.
By comparison, Apple's stock price was up nearly 5 percent over this same period in each of the past two years.
Apple is up over 1 percent in early market trading today.
Tags: Brian White, AAPL
[ 99 comments ]
Top Rated Comments
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13 months ago
Buy low, sell high. Even I know that :)
Wallstreet analysts are using this ONE SIMPLE TRICK to get rich. You won't believe how they do it!
13 months ago
well, let's be frank and honest.this is the result of ambitious GREED.
releasing 7s (now called 8) and next year's iPhone 9 (now called X) at the same time..(with excuse of 10Th anniversary)..
iPhone 8 is the most un-interesting iPhone EVER,yet the price is increased, and iPhone X is what standard next cycle of iPhone should have been without such unjust and crazy price hike.
+ released them both together and yeah it backfired big time.
it's all Apple marketing departments flaw.(probably Schiller himslef).
If they wanted to do something special for iPhone 10Th anniversary,they should have skipped 7s (8) ,and just released the iPhone 8 (what they call X now).
when you have edge to edge OLED phones like S8 / S8 Plus available to people,you simply cannot come months later, make something similar and sell it for $1000 just because it's running iOS and has better face scanning option.
releasing 7s (now called 8) and next year's iPhone 9 (now called X) at the same time..(with excuse of 10Th anniversary)..
iPhone 8 is the most un-interesting iPhone EVER,yet the price is increased, and iPhone X is what standard next cycle of iPhone should have been without such unjust and crazy price hike.
+ released them both together and yeah it backfired big time.
it's all Apple marketing departments flaw.(probably Schiller himslef).
If they wanted to do something special for iPhone 10Th anniversary,they should have skipped 7s (8) ,and just released the iPhone 8 (what they call X now).
when you have edge to edge OLED phones like S8 / S8 Plus available to people,you simply cannot come months later, make something similar and sell it for $1000 just because it's running iOS and has better face scanning option.
13 months ago
Would be interested in asking Brian White of Drexel Hamilton what his view on 300,000 a month //www.macrumors.com/2017/09/11/kgi-gold-iphone-x-possibly-delayed/ @ $400.00 approx gross profit for iPhone X 64GB
= the poultry amount (for apple) of $120,000,000 gross profit a month.
Based on above and lacklustre iPhone 8 sales it is hardly surprising AAPL is tanking.
You're showing your complete lack of knowledge on investing if you think the current price in any way shape or form indicates "APPL is tanking."
Please stop now before your embarrass yourself any more.
13 months ago
Many people on this forum keep saying "everyone" is waiting for the iPhone X, but I simply don't think that's true at all. I think SOME people are waiting for the X, and if it's truely that many, I think a lot of people are going to be disappointed at how long they have to wait to get one. I also think there are a lot of people like me who are not waiting for the X (for a vast number of reasons I won't go into here, to stay on topic).
I'm going to upgrade both my wife's and my iPhones this year, but I don't feel the need to have it in my hands one week after it's announced. We'll pick up two iPhone 8s or 8 pluses... when we get around to it. I don't think we're alone.
For practicality's sake, I think a lot of people are just weighing their options this year and taking a little bit of time about it. After all, for better or worse, there have never been more iPhone options from Apple.
I'm going to upgrade both my wife's and my iPhones this year, but I don't feel the need to have it in my hands one week after it's announced. We'll pick up two iPhone 8s or 8 pluses... when we get around to it. I don't think we're alone.
For practicality's sake, I think a lot of people are just weighing their options this year and taking a little bit of time about it. After all, for better or worse, there have never been more iPhone options from Apple.
13 months ago
I think it often goes down after a keynote, as over high expectations are shot down and reality sets in.It usually recovers when sales numbers start being known.
13 months ago
I don't wish ill will on anyone but a nice big fat drop in price to the $75-80 range would bring the VPs at Apple back to reality.
13 months ago
Apple's stock does this every year at a product release..All the hater news articles come out about how terrible the iOS and MacOS is, then Apple absolutely destroy's the forecast numbers.
13 months ago
What if sales of the X is also lacklustre? We shall see.
Perhaps it's not so much the iPhone 8 or X being bad phones per se, but phone upgrade fatigue.
I'm not talking about the folks here on MR, but every day non-geeks.
As much as we hate being gouged by cable, phone and printer, razor etc. companies, cell phone makers are becoming almost as bad.
Perhaps it's not so much the iPhone 8 or X being bad phones per se, but phone upgrade fatigue.
I'm not talking about the folks here on MR, but every day non-geeks.
As much as we hate being gouged by cable, phone and printer, razor etc. companies, cell phone makers are becoming almost as bad.
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