Here are the biggest calls on Wall Street on Thursday
Goldman said it sees a lower probability that upside volume scenarios will be achieved for"While TSLA shares have been under pressure this year, they are currently bouncing back on near-term deliveries. And while we believe 2Q19 should be fine — and the company likely achieves volumes near FactSet consensus — we do believe 2H19 volume estimates look high considering there are fewer levers to pull to stoke demand going forward .
"Our neutral view is based on 4 main points: 1) We fear a 2019 iPhone cycle lull ahead of 5G iPhones in 2020; 2) Other hardware is transitioning to growth , but this is more of the slow-and-steady variety; 3) Services could provide a partial offset and contribute 2-3 points of growth, however the business increasingly faces a law of large numbers dynamic; 4)'s balance sheet offers some positive optionali-ty, but this is largely contemplated in estimates.
"Our bullish thesis is predicated on 4 main points: 1) Street estimates may prove conservative over the next 2-3 years as a 15-20% discount to's implied EPS target seems too large; 2) Rising investor fears of slowing IT infrastructure spending are further magnified by Dell's high debt levels.
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