Goldman Sachs says now is the time to sell Apple, forecasts 20% drop from current level
Goldman Sachs downgraded Apple shares to "sell" on Friday, citing the economic slump for its forecast of a near-term decline in device sales.
The bank lowered its price target for Apple shares to $233, implying a nearly 20% drop from Thursday's close.
Weakened demand will push iPhone sales down 36% in the second quarter, and stifled buying power will hamper average selling prices through 2021, the team of analysts wrote.
Despite the revenue slide, Goldman expects Apple's customers to merely defe
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