On March 4th, it was reported that Goldman Sachs has removed Apple Inc. from its "Best Buy List," primarily due to the underperformance of Apple's stock and a sluggish demand for its flagship products.
Since June 2023, Apple's stock price has remained relatively stagnant, while the S&P 500 index has seen a nearly 22% increase during the same period.
In comparison to other tech giants like Microsoft, Apple's performance has lagged behind all but Tesla among the seven major tech titans.
After being dropped by Goldman Sachs last Friday, Apple's stock price took a hit, falling by 0.6%.
Goldman Sachs stated that its Conviction Buy List undergoes monthly reviews, and once a stock is no longer seen as a top investment choice, it gets removed from the list.
Despite being removed from the Conviction Buy List, Goldman Sachs analyst Michael Ng still maintains a Buy rating on Apple. He remarked, "Market concerns about slowing revenue growth for Apple products overshadow the robust strength of the Apple ecosystem and the durability and visibility of related revenues."
