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Apple streaming event "could trigger a sell-off," says BTIG



BTIG analyst Walt Piecyk said on Monday that the imminent launch of the streaming media service by Apple Inc. "could trigger a sell-off of the stock." The company is due to make an announcement on Monday at 1:00 pm. ET, which is expected to affect the company's video streaming efforts. "We believe Apple can say little at its event today that will satisfy media skeptics," wrote Piecyk. He said that sales after Apple events have become typical. "Most of today's criticisms are likely to be accurate, but viewed from a short-term perspective," wrote Piecyk. It is also difficult and expensive to become an impressive media player. He argued that the company should not aim for a major acquisition to bolster its content ambitions. Nonetheless, he raised his $ 1

89 target in his Monday bulletin to $ 220, writing that the outlook for Apple's 2020 earnings is favorable compared to the S & P 500

SPX, + 0.24%

Apple shares rose 30% in the last three months, while the Dow Jones Industrial Average

DJIA, + 0.28%

has increased by 17%.

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