Goldman Sachs maintained its buy rating on Apple (AAPL), but lowered its price target

Goldman Sachs have trimmed their price target for AAPL to US$280, from previously at $280.

GS maintained its buy rating, and noted:

• says the underperformance in 2025 is driven by a post-holiday inventory digestion ahead of weak seasonal period for the stock, which coincides with seasonally negative supply chain data points
• (GS notes January – April is seasonally weak)
• competition has intensified within the Chinese smartphone market
• “we’re encouraged by the potential for accelerating iPhone growth in F2026 driven by new product innovation for iPhone 17/18 and the continued rollout of Apple Intelligence to new markets with a more robust feature set”

***

Apple’s quarterly earnings report is due on January 30.

This article was written by Eamonn Sheridan at www.forexlive.com.