- Goldman Sachs analyst Rod Hall reiterated his Neutral rating and $142 price target on Apple Inc (NASDAQ AAPL) shares heading into earnings. The price target implies a downside of 12%.
- Hall notes company's iPhone business should see positive results with upside risk to his December numbers.
- However, retail sales data and Chinese CAICT data suggest slower momentum in the month of December.
- Hall adds that while this may be linked to consumers purchasing earlier than usual in the quarter, it may also drive more cautious commentary from Apple looking into the March quarter.
- Price Action: AAPL shares traded lower by 1.16% at $159.75 in the premarket session on the last check Tuesday.
