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The case of the Underwater Analysts, 5G and not 5G, and Oprah pulls the plug on an

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It's Monday, the 13th of January 2020. I'm Ken Ray and this is news from Maco

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Credit Suisse does not mind being underwater on Apple shares, though it doesn't want to be as deep

underwater as it's been. Underwater is a term that some use to describe price

targets that are below where a stock is currently trading.

For example, Credit Suisse's price target on Apple last week of $221, while Apple is trading

around $300 would be underwater and so is the new price target of

275 dollars quoting a piece from Apple Insider faced with fresh data from China that showed Apple fare much better

than the overall market during December. Credit Suisse is boosting its price target

on shares of the iPhone maker to $275, but holding firm on its neutral rating. The

thinking of analyst Matthew Cabral is interesting. According to his findings, iPhone shipments were up 18.7% year over year in China,

while smartphones as a whole were down in China, 13.7%. Still, Cabral thinks Apple revenues in the region may fall

23% for the December quarter. According to the report, the drop is said to be primarily a factor of Chinese customers shifting

towards the lower priced iPhone 11 in tandem with Apple's price cut on the iPhone

11 over iPhone 10, which amounts to roughly a 15% savings on the Chinese

Renminbi. I will confess to confusion around Cabral's note.

Apple insider says Cabral also maintains a gray sky scenario for Apple's shares that

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