Goldman Sachs believes Apple faces a 'material negative impact' on earnings for the accounting method it will use for an Apple TV+ trial.
, predicting 26% downside to the shares because of a "material negative impact" on earnings for the accounting method the iPhone maker will use for an Apple TV+ trial."We believe that Apple plans to account for its 1-year trial for TV+ as a ~$60 discount to a combined hardware and services bundle," wrote Goldman analyst Rod Hall, in a note.
Goldman cut its 12-month price target on Apple to $165 from $187. The shares closed Thursday at $223. Apple did not immediately return an email for comment.
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