Finance

Apple’s stock is down, but still supported by analysts

Apple’s stock is down, but still supported by analysts
Friday, 18 September 2020 18:06

The value of Apple’s stock fell again on Thursday, September 17 on the Nasdaq where the American manufacturer is listed. It was down 1.6% after having fallen by 3% during Wednesday's session.

This decline is part of an overall decline observed on technology stocks that have driven the U.S. stock markets between late March and late August 2020. Apple posted a decline of 3.7% over the last 30 days.

Despite this decline, the world's largest company by stock market value is appreciated by investors. The analysis and investment firm Jefferies recommended it for purchase.

“We see historically low upgrade rates and handset subsidies in the U.S. reversing trend, share gains versus Huawei in Europe, and a massive legacy installed base in China looking to upgrade,” said Jefferies analyst Kyle McNealy. As a result, he believes the company's value can grow another 16% or more.

Jefferies is not the only investment firm to recommend Apple for purchase. Needham & Company believes that the company's new offerings and new manufacturing processes will give it a competitive edge. For these analysts, the Apple share could even reach $140.

Idriss Linge

On the same topic
• Bassirou Diomaye Faye denounces credit rating agencies’ methodologies as ill-suited to African contexts.• Senegal urges reforms to enable fairer...
(AfDB)-The Board of Directors of the African Development Bank Group has approved a $474.6 million loan for South Africa's Infrastructure Governance...
New card enables African payments without using US or European networks Aims to lower costs, protect financial data, and boost intra-African...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société Générale Burkina Faso (SGBF).•The move is part of...
Most Read
01

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
02

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
03

• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...

Deepfake Threat Becomes Alarming in Africa as AI Advances Faster Than Laws
04

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
05

• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...

Gates Foundation Pledges $1.6 Billion to Gavi to Boost Global Child Vaccination
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.