Goldman delisted Apple shares

Goldman Sachs has removed Apple stock from its "Directors' Cut" list of most-buy stocks after the stock underperformed on concerns about weak demand for its core products. The S&P 500 Index rose almost 22 percent, while its stock price was little changed in the period. Apple fell 0.6 percent on Friday after its removal from the list. Apple far outperformed the stocks in the "Fab 7." Concerns about a prolonged decline in iPhone sales, especially amid China's economic woes, were the main culprits. Goldman said the Directors' Cut list is reviewed monthly and stocks that are "no longer a significant investment idea" are removed. Analyst Michael Ng maintains a buy rating on Apple, believing that "the market's focus on slower product revenue growth masks the strength of the Apple ecosystem and the associated revenue resilience and visibility."