Here’s Why Goldman Sachs Sees 12 Percent Downside in Apple

The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, on Oct. 16, 2019. Mike Segar/Reuters

Goldman Sachs analyst Rod Hall reiterated his Neutral rating and $142 price target on Apple Inc. shares heading into earnings. The price target implies a downside of 12 percent.

Hall notes company’s iPhone business should see positive results with upside risk to his December numbers.