What you need to know
- Despite consistent, record-breaking gains in 2020, some investors remain unconvinced by AAPL.
- One investor pegged Apple when asked to name a widely held company that worried her.
- Elsewhere, Rosenblatt Securities warned that the market was "too enthusiastic" about the upcoming 5G cycle and that the iPhone SE 2 would cannibalize sales of iPhone 7 and 8.
Despite Apple's record-breaking 2019, and its continued growth in 2020, some investors remain unconvinced by the prospect of AAPL.
In two separate reports today, January 24, two investors warned of Apple's upcoming struggles, and possibly its impending doom. First, Rosenblatt Securities' Jun Zhang actually raised his AAPL target price by $100, to $250...
Until now, Zhang's AAPL target price was only $150 a share, less than half its current actual value...
According to a report from Apple Insider, his most recent investors note warned of low iPhone ASPs (average selling price), overenthusiam over 5G and the prospect of the iPhone SE 2 cannibalizing sales of the iPhone 7 and 8:
Elsewhere, Rupal Bhansali, panelist for Barron's Investment Roundtable, was asked to name a company widely held by investors that worried her, she, of course, said Apple stating:
She didn't offer any specifics as to how the iPhone is "disadvantaged on many fronts", nor which devices it was "trying to play catch-up" with.
Of course, with Apple's next earnings call just a couple of days away (January 28), we don't have long to wait to find out whether the holiday season has been kind to Apple. Certainly, reports have suggested that the iPhone 11 has enjoyed a bumper launch and that growth has been further buoyed by the success of Apple's AirPods Pro.
Apple has endured the infamous "Apple is doomed!" narrative for as long as we can remember, yet seemingly it continues to chart consistent growth, looking down at us all from the massive pile of cash it keeps tucked away for a rainy day.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9