Apple Is Still an 'Own, Don't Trade' Stock

Katherine Ross

Apple got a downgrade from Goldman Sachs Friday, April 17.

Analysts at Goldman Sachs also cut Apple's price target. 

Goldman analyst Rod Hall lowered his Apple rating to "sell", from "neutral", citing the impact the global coronavirus pandemic is likely to have on the group's 2021 earnings. Goldman also cut its price target on Apple by $17 to $233 each and is modeling a 36% decline in second-quarter iPhone unit sales. Hall also cautions that average selling price weakness is "likely to linger" over the coming months and services revenues, a key growth component will stagnate in 2021 as well.

Jim Cramer is off Friday morning, so Jeff Marks, senior portfolio analyst with Action Alerts PLUS joined TheStreet to discuss the plan to reopen the economy.

Watch the full video above for more.

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Cramer and the team are weighing in on what members need to know about the coronavirus pandemic's impact on the market. Here's how you can recap his entire April show.

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