Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Morgan Stanley Has Lowered Its Target Prices for a Wide Range of Tech Equities, Including Apple Aapl +0.67 Percent. By: Best Stocks June 15, 2022 at 15:45 PM EDT However, the tech behemoth may still be the greatest option in this field. Analysts headed by Erik Woodring noted in a report that “consumer spending intentions are getting more cautious, especially for high-end consumers.” There has been a steady decline in the low- and middle-income consumer spending for months, while high-end expenditure has remained stable. Because the United States’ top 20 percent of income account for 40 percent of all consumer spending, this is critical information to know. As a result of the S&P 500 SPX –0.38 percent in a bear market, the poorest level of consumer confidence in a decade, and growing inflation concerns, “the prospects of a retreat at even the high-end consumer are rising,” the analysts added. In the eyes of Morgan Stanley, the most vulnerable corporations are those that produce discretionary goods and have reaped the benefits of the epidemic. However, no one is exempt: The bank has slashed its revenue expectations for the industry by 5% on average. Woodring and the other analysts also reduced their price target for Sonos SONO –2.24 percent (ticker: SONO) from $38 to $28 and demoted the provider of audio equipment to Equal-Weight from Overweight. In premarket trade on Wednesday, shares of Sonos fell by 2.5%. Logitech International LOGI +0.13 percent (LOGI) had its price objective lowered to $53 from $60; the stock was up less than 1% in premarket trading. As a result, GoPro’s price target dropped to $8 from $11, while Garmin’s (GRMN) was lowered to $115 from $127, according to analysts. The price goal for Cricut (CRCT), a maker of computer-controlled cutting devices, has been reduced to $6 from $11. Apple was the final remaining stock. Even if the stock price of Apple has fallen from $195 to $185, Morgan Stanley still has the business rated Overweight in the sector. Shares of Apple (NASDAQ: AAPL) was up 1% in premarket trading and were expected to open at $134.50 a share. Despite Woodring and the other analysts’ belief that Apple would continue to outperform its competition in both the short and long term, they feel that consensus expectations still need to be lowered to reflect reduced consumer spending. The post Morgan Stanley Has Lowered Its Target Prices for a Wide Range of Tech Equities, Including Apple Aapl +0.67 Percent. appeared first on Best Stocks. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Morgan Stanley Has Lowered Its Target Prices for a Wide Range of Tech Equities, Including Apple Aapl +0.67 Percent. By: Best Stocks June 15, 2022 at 15:45 PM EDT However, the tech behemoth may still be the greatest option in this field. Analysts headed by Erik Woodring noted in a report that “consumer spending intentions are getting more cautious, especially for high-end consumers.” There has been a steady decline in the low- and middle-income consumer spending for months, while high-end expenditure has remained stable. Because the United States’ top 20 percent of income account for 40 percent of all consumer spending, this is critical information to know. As a result of the S&P 500 SPX –0.38 percent in a bear market, the poorest level of consumer confidence in a decade, and growing inflation concerns, “the prospects of a retreat at even the high-end consumer are rising,” the analysts added. In the eyes of Morgan Stanley, the most vulnerable corporations are those that produce discretionary goods and have reaped the benefits of the epidemic. However, no one is exempt: The bank has slashed its revenue expectations for the industry by 5% on average. Woodring and the other analysts also reduced their price target for Sonos SONO –2.24 percent (ticker: SONO) from $38 to $28 and demoted the provider of audio equipment to Equal-Weight from Overweight. In premarket trade on Wednesday, shares of Sonos fell by 2.5%. Logitech International LOGI +0.13 percent (LOGI) had its price objective lowered to $53 from $60; the stock was up less than 1% in premarket trading. As a result, GoPro’s price target dropped to $8 from $11, while Garmin’s (GRMN) was lowered to $115 from $127, according to analysts. The price goal for Cricut (CRCT), a maker of computer-controlled cutting devices, has been reduced to $6 from $11. Apple was the final remaining stock. Even if the stock price of Apple has fallen from $195 to $185, Morgan Stanley still has the business rated Overweight in the sector. Shares of Apple (NASDAQ: AAPL) was up 1% in premarket trading and were expected to open at $134.50 a share. Despite Woodring and the other analysts’ belief that Apple would continue to outperform its competition in both the short and long term, they feel that consensus expectations still need to be lowered to reflect reduced consumer spending. The post Morgan Stanley Has Lowered Its Target Prices for a Wide Range of Tech Equities, Including Apple Aapl +0.67 Percent. appeared first on Best Stocks.
However, the tech behemoth may still be the greatest option in this field. Analysts headed by Erik Woodring noted in a report that “consumer spending intentions are getting more cautious, especially for high-end consumers.” There has been a steady decline in the low- and middle-income consumer spending for months, while high-end expenditure has remained stable. Because the United States’ top 20 percent of income account for 40 percent of all consumer spending, this is critical information to know. As a result of the S&P 500 SPX –0.38 percent in a bear market, the poorest level of consumer confidence in a decade, and growing inflation concerns, “the prospects of a retreat at even the high-end consumer are rising,” the analysts added. In the eyes of Morgan Stanley, the most vulnerable corporations are those that produce discretionary goods and have reaped the benefits of the epidemic. However, no one is exempt: The bank has slashed its revenue expectations for the industry by 5% on average. Woodring and the other analysts also reduced their price target for Sonos SONO –2.24 percent (ticker: SONO) from $38 to $28 and demoted the provider of audio equipment to Equal-Weight from Overweight. In premarket trade on Wednesday, shares of Sonos fell by 2.5%. Logitech International LOGI +0.13 percent (LOGI) had its price objective lowered to $53 from $60; the stock was up less than 1% in premarket trading. As a result, GoPro’s price target dropped to $8 from $11, while Garmin’s (GRMN) was lowered to $115 from $127, according to analysts. The price goal for Cricut (CRCT), a maker of computer-controlled cutting devices, has been reduced to $6 from $11. Apple was the final remaining stock. Even if the stock price of Apple has fallen from $195 to $185, Morgan Stanley still has the business rated Overweight in the sector. Shares of Apple (NASDAQ: AAPL) was up 1% in premarket trading and were expected to open at $134.50 a share. Despite Woodring and the other analysts’ belief that Apple would continue to outperform its competition in both the short and long term, they feel that consensus expectations still need to be lowered to reflect reduced consumer spending. The post Morgan Stanley Has Lowered Its Target Prices for a Wide Range of Tech Equities, Including Apple Aapl +0.67 Percent. appeared first on Best Stocks.
