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Analysts at Goldman Sachs have stated that Apple Inc.
AAPL, -0.81%
made them "eat our hat" because the cautious stance they adopted this summer proved to be wrong. Senior analyst Rod Hall raised his stock price target to $ 240, about 7.4% higher than the current level, up from $ 164. He kept his note neutral. The share rose 0.2% in afternoon trading, after falling 2.3% in the last two sessions from the record close of $ 228.36 on Tuesday, but still increased by 32% since the beginning of the year. Since Hall brought Apple back to neutral on February 6, the stock has risen 37 percent while the Dow Jones Industrial Average
DJIA, -0.31%
gained 3.8%. The reason Hall changed in the opinion before the launch of the Apple iPhone on September 12, he expected a drop in demand for the iPhone X and to a decline in the stock during the summer. The above-expectations demand leads one to think that it's unlikely that Apple will opt for lower prices on iPhones, which would be "potentially positive" for average selling prices and prices. profits. Piper Jaffray also raised his Friday course goal from $ 218 to $ 250.
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