Apple: Warning Signs Everywhere
- Apple continues to race towards $200 as multiple analysts hike price targets despite limited boosts to projected growth over the next couple of years.
- The average price target on Apple actually remains below the current stock price.
- The narrowing market breadth due in large part to Apple will lead to a larger market dip.
- The stock shouldn't trade at 35x forward EPS estimates despite all of the recent analyst projections.
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Day after day, analysts attempt to one up each other with higher price targets for (AAPL). The tech giant already trades at all-time highs with a near peak forward P/E multiple despite the desire by analysts to suddenly hike price targets. My investment thesis remains Bearish on the stock at all-time highs while growth rates are set to cool.
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