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Apple Falls Midday; Goldman Cuts Price Target

Investing.com

Investing.com - Apple (NASDAQ:AAPL) fell in midday trade Friday after its price target was cut by Goldman Sachs (NYSE:GS) to $165 from $187.

Apple lost 1.8%.

Analyst Rod Hall maintained his neutral rating on the company, but noted that its plan to offer a trial period for Apple TV+ will likely cause a negative impact on its earnings.

Apple announced this week that it plans to offer one year free of its streaming service with the purchase of certain hardware. The service is otherwise priced at $4.99 per month.

Streaming services Netflix (NASDAQ:NFLX) gained 2.3% midday and Walt Disney (NYSE:DIS) inched up 0.4%.

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