Horoscope or Goldman Sachs as a portfolio advisor?

On September 13, 2019, the investment bank, cut its price target for Apple’s stock (AAPL) to $165 a share from $187. The stock price closed the year 2019 at $293.65.

On April 20, 2020, the same bank, downgraded Apple stock to "sell", forecasting "a drop in demand for its smartphone devices and predicting a long recovery period". On that day, AAPL was at $276.93. Last Friday, July 24, AAPL was at $370.46.

"Apple's rally to all-time highs won't last, and investors should steer clear of the stock until its outlook is clearer", Goldman Sachs said on Wednesday, July 22, 2020.

It's obvious that Goldman Sachs' investment advisory department might lack accuracy but has a lot of courage.

Not everyone can read the horoscope and present it as a stock price prediction for one of the most valuable companies.

Every time I read a financial prediction or advisory from a "mighty" investment firm, I recall the next quote of Jean-Paul Sartre:

There are two types of poor people, those who are poor together, and those who are poor alone. The first are the true poor, the others are rich people out of luck!