Goldman Sachs supports Apple as it gears up for developer conference
- Goldman Sachs has reiterated its buy recommendation for Apple as it approaches a key event.
- Needham initiated coverage on Philip Morris, indicating its status as a market leader despite challenges.
- Analysts are expressing a mix of optimism and caution regarding different sectors, illustrating diverse market conditions.
On May 22, 2025, Wall Street analysts provided important insights regarding various companies, particularly highlighting Apple and its forthcoming Worldwide Developer's Conference set for June 9. Goldman Sachs reiterated their buy recommendation for Apple, emphasizing the company's expected advancements in artificial intelligence integration into its operating systems. Analysts foresee significant announcements related to AI models for app development during this event. Additionally, the potential partnership between Apple and Alphabet's CEO Sundar Pichai is considered pivotal, as it could influence the incorporation of Gemini AI integration in iPhones, with a target completion by mid-2025. The publication also noted the initiation of positive coverage for Philip Morris by Needham, marking it as a market leader despite experiencing ongoing top-line weaknesses. The increase in uncertainty surrounding its valuation and competition was highlighted. Furthermore, Goldman Sachs maintained its bullish perspective on Snowflake, signaling confidence following the company's recent earnings report. This reflects a broader trend of optimism for tech stocks, particularly in the data analytics sector. Another notable analyst upgrade involved Planet Fitness, with Stifel raising its rating from hold to buy, forecasting positive catalysts for the gym chain's growth. In contrast, there was a downgrade for Sunrun by BMO, based on concerns regarding potential changes to solar tax credits in legislation currently under consideration by Congress. This downgrade illustrates the heightened scrutiny surrounding solar energy companies amid evolving policy landscapes. Moreover, additional upgrades and downgrades were noted for companies such as Dana and Canada Goose, reflecting mixed sentiments in various sectors, from automotive parts suppliers to retail. Overall, the analysts’ calls underscore a dynamic market condition as companies gear up for events and navigate shifts in consumer demand and regulatory environments.