As per the report, a ‘sell’ rating on Apple with a target price of $80. Hall put his short-term expectations for Apple and stated that given the strong consumer demand indicators superimposed on the demand for Mac and iPad triggered by home office and study.
Apple’s financial results and guidance for the first and second quarters are likely Will perform well. However, Hall said that Apple has already started to cut iPhone orders, and in the first half of this year, when making order adjustments, it will lean towards models including lower average selling prices.
The analyst believes that this change means that the new iPhone 12/Pro series is undergoing a normal upgrade cycle, rather than a ‘supercycle.’
In December 2020, analyst Rod Hall stated that there are signs that consumers prefer older, lower-priced models. Although ‘unit demand looks strong,’ the channel survey supports ‘a cautious view on the average sales cost in 2021,’ that is the key reason why Goldman Sachs is short.
(Source)
