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Goldman Sachs says these 10 stocks are dangerously overvalued and could tumble 20% a?? and their list includes Apple, which they see plunging 35% this year

Goldman Sachs says these 10 stocks are dangerously overvalued and could tumble 20% a?? and their list includes Apple, which they see plunging 35% this year
Brendan McDermid/Reuters



Goldman Sachs is forecasting a much more difficult year for stocks in 2020, and says it's going to do serious damage to Apple and several other tech and consumer discretionary companies.




David Kostin, the firm's chief US equity strategist, says Apple could drop 35% this year as momentum fades. He also thinks its earnings growth in the next few years looks relatively unimpressive.




Kostin calls for a sell-off of 20% or more in 10 stocks, and six are in the consumer or tech sectors.




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Investors had a lot to be happy about in 2019 as all kinds of assets went up — but when almost everything rises, some are inevitably going to be overpriced.
In forecasting a much slower year for the market, Goldman Sachs chief US equity strategist David Kostin is pointing out the stocks that he thinks are most likely to be riding for a big decline in 2020.
Kostin expects the S&P 500 index to inch up less than 5% this year to a final target of 3,400. That's below the market's long-term average and represents a big slowdown compared to last year's dramatic gain.
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