Goldman Sachs Group, Inc.(NYSE:GS) said their IT hardware group outperformed the S&P 500 this week, led by Apple Inc. (NASDAQ:AAPL), which advanced 9.1 percent. They’ve rated Apple as a buy. In their view, the stock rally is simply a delayed reaction to the company’s $100 billion capital allocation plan. They also believe this week’s $17 billion bond deal made that reaction even more intense.
In addition, they said investors may be reacting to Apple’s adjusted guidance. While initially adjusting guidance usually causes a negative reaction, the idea here is that Apple Inc. (NASDAQ:AAPL) will be less likely to miss expectations. As a result, the risk involved in investing in the stock before the iPhone and iPad refresh may be mitigated.
Another near-term catalyst they see is Apple’s annual Worldwide Developer’s Conference, which is set for June 10 – 14 in San Francisco. The company is expected to unveil some major iOS updates, so that has the potential to renew investors’ outlook on Apple’s innovation abilities.
Geen opmerkingen:
Een reactie posten