Monness Crespi Hardt Analyst Likens Apple Position to Disaster Film

12 JULY 2022 - Apple will not dodge the consumer spending slowdown, so says Monness Crespi Hardt analyst Brian White. Personally, I think it should be Monness Crespi Crespi Hardt, because I like it extra Crespi.

I kid. But seriously - we may want to consider the new life that awaits us in the off-world colonies. Barron’s (via Apple Stocks) highlights Mr. White’s note. Quoting the highlight(?):

White said that while Apple’s portfolio has never been stronger, “the economy appears to be in recession, regulatory headwinds persist, equity markets are in turmoil and the geopolitical landscape is daunting,” comparing the situation with Apple stock to the classic 1974 disaster movie The Towering Inferno.

Two particularly fun quotes from his note: “We fear it will take a deluge of extraordinary forces to put out this blaze and avoid further destruction,” and, “In the end, we expect this economic blaze will curtail Apple’s growth.”

That said, he still likes Apple stock, believe it or not. White maintained a “Buy” rating on Apple shares. With flames fast approaching though, he couldn’t keep his $199 price target. He’s dropped that down to $174, according to Barron’s.

See, in the off-world colonies, they’ve got these robots that do everything for you. Anyway, that’s what the brochure says.