Analyst thinks Apple is doomed and will lose a third of its value in 2020
What you need to know
- An analyst is not at all convinced Apple's value will increase in 2020.
- In fact, David Kostin thinks a third will be wiped off.
- And this from the bank Apple chose as its Apple Card partner.
If Goldman Sachs analyst David Kostin wanted to get everyone's attention, saying that Apple will lose a third of its value this year is certainly one way to go about it. And that's what he's done in a note that was picked up by Business Insider.
Kostin is the top US equity strategist at Goldman Sachs and he believes that Apple's stock is on the crest of a wave. And as with all waves, this one will have to come crashing down eventually. And it's going to happen this year, apparently.
AAPL started 2020 by reaching $300 per share, double what it was worth in January 2019. And things looked so promising that Gene Munster told CNBC that we might even see shares reach $400 this year, too.
Kostin and Munster can't both be correct. Now we get to sit back and watch as we wait to see which one was.
Get more iMore in your inbox!
Our news, reviews, opinions, and easy to follow guides can turn any iPhone owner into an Apple aficionado
Oliver Haslam has written about Apple and the wider technology business for more than a decade with bylines on How-To Geek, PC Mag, iDownloadBlog, and many more. He has also been published in print for Macworld, including cover stories. At iMore, Oliver is involved in daily news coverage and, not being short of opinions, has been known to 'explain' those thoughts in more detail, too.
Having grown up using PCs and spending far too much money on graphics card and flashy RAM, Oliver switched to the Mac with a G5 iMac and hasn't looked back. Since then he's seen the growth of the smartphone world, backed by iPhone, and new product categories come and go. Current expertise includes iOS, macOS, streaming services, and pretty much anything that has a battery or plugs into a wall. Oliver also covers mobile gaming for iMore, with Apple Arcade a particular focus. He's been gaming since the Atari 2600 days and still struggles to comprehend the fact he can play console quality titles on his pocket computer.