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Pete Najarian Says Goldman Sachs Is Wrong About Apple

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Pete Najarian Says Goldman Sachs Is Wrong About Apple

Goldman Sachs has been wrong about Apple Inc (NASDAQ: AAPL) for a long time, Pete Najarian, co-founder of Market Rebellion, said Wednesday on CNBC's "Fast Money: Halftime Report."

What Happened: Goldman Sachs reiterated its Sell rating and $83 price target after Apple's "Spring Forward" event Tuesday. Morgan Stanley analyst Katy Huberty maintained Apple at Overweight and raised her price target to $158 on Wednesday.

Related Link: Apple Unveils AirTags, New iMac, iPad Pro, Apple TV 4K And More

Huberty is looking at services and wearables, Najarian said. "That's where the margins are and where [Apple] continues to grow," he said. 

People are going to continue upgrading their Apple products, he added. 

Related Link: Why Analyst Sees AirTags As A $10B Opportunity For Apple

"You've got to listen to Katy" when it comes to Apple, Najarian said, adding Huberty has been right about Apple more than just about any other analyst. 

"There are a lot of different categories that I think make Apple really interesting going forward," Najarian told CNBC.

CNBC's Scott Wapner said he normally provides a counter to arguments on the show, but in the case of Apple, he said he did not have one. "The numbers don't lie," Wapner said. 

Apple is scheduled to report second-quarter earnings on April 28. 

APPL Price Action: Apple was up 0.23% at $133.42 at last check Wednesday afternoon. 

(Photo: The recently introduced iPad Pro via Apple.)

Latest Ratings for AAPL

DateFirmActionFromTo
Apr 2021BarclaysMaintainsEqual-Weight
Apr 2021Monness, Crespi, HardtMaintainsBuy
Apr 2021Credit SuisseMaintainsNeutral

View More Analyst Ratings for AAPL
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Posted-In: Apple Apple Event Goldman SachsPrice Target Reiteration Analyst Ratings Tech Media

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StockFirmActionPT
PHXSeaport GlobalInitiates Coverage On
AFCGLake StreetInitiates Coverage On29.0
OSSNoble Capital MarketsUpgrades7.0
NCNOGabelli & Co.Upgrades
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