Goldman admits it was wrong on Apple, boosts stock outlook by 20 percent
Goldman Sachs raised its price target on Apple stock all the way to $240 per share from $200 per share on Thursday, admitting they got the stock completely wrong this summer as it rallied to a $1 trillion valuation. Goldman laid out its expectations for the next generation of iPhones and reversed its previous bearish position on the technology giant. "We also take this opportunity to eat our hat somewhat on our cautious stance this Summer," Goldman analyst Rod Hall said in a note. "We had expected worse iPhone X demand and some pullback in the stock — clearly neither of these two things happened."