Apple Inc. (NASDAQ: AAPL) – Should merchants and investors avoid Apple’s shares at this time?

Goldman Sachs made a very bearish call to Apple Inc. (NASDAQ: AAPL) and this was the topic of debate on CNBC’s “Halftime Report”.

Goldman raised Apple’s price target from $ 263 to $ 299, but told investors to “avoid stocks” at these “unsustainable” levels. Apple was trading around $ 371 per share at press time.

Apple ‘doesn’t deserve’ to be that high: Apple’s shares “don’t deserve” to be where they are, although the same can be said for other stocks and the market in general, Stephen Weiss said on CNBC. Even before the COVID-19 pandemic, Apple has shown investors flat gains and revenue growth for two years.

As such, Apple’s actions have not justified a multiple expansion by a factor of two, he said. However, the market is likely looking at Apple ahead of its biggest product launch, a new 5G-capable phone.

Apple has zero competition: Before diving into Goldman’s thesis on Apple, it’s important to note that “no body” competes with Apple, said Momentum Advisors CEO Tiffany McGhee. The iPhone maker not only has a cult following, but has become an expert at connecting with its customers in all aspects of their lives.

In other words, investors cannot simply rely on traditional metrics that Wall Street analysts and investors use to evaluate companies. She said this is true for a company like Apple, where “no one has been able to do what they have been able to do.”

‘I can’t understand’ The sale: Apple is believed to be weeks away from announcing a 5G phone, and Jon Najarian said he “can’t understand” the logic behind Goldman’s call. Even if investors sell Apple shares to make a profit off the table, the question remains where they would put the cash to use.

“What stock in the tech space do you replace Apple with?” I ask.

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