Investors should sell certain stocks including Apple into 2021, says Goldman

Published Sat, Nov 21 20208:20 AM ESTUpdated Sat, Nov 21 20208:48 AM EST

(This story is for CNBC PRO subscribers only.) With 2020 quickly coming to an end, Goldman Sachs screened its stock coverage universe for names that investors should nix from their portfolios in 2021. The firm highlighted stocks that it has a sell rating on, and which have at least 10% total return downside according to its analysts. Goldman also believes each company carries the risk of an earnings miss, with the firm's 2021 earnings estimates at least 5% below consensus estimates. Here are some of the names on the list: Apple is one of the stocks on Goldman's list, and the firm's sell rating on the tech giant is one of just four sell ratings on the Street out of 41 firms, according to FactSet. Goldman expects Apple to earn $3.41 per share in 2021, below the Street consensus estimate of $3.96. "In our opinion Apple continues to show strong execution, but we see fundamentals more likely to disappoint in 2021 as the long anticipated 5G iPhone fails to meet optimistic consensus expectations and Services revenue growth slows," the firm said in an Oct. 30 note to clients following Apple's fourth quarter earnings results. Intel also makes the list, with Goldman forecasting the chip maker earning $3.47 for 2021, 24% below the Street estimate of $4.56. In a recent note to clients, analyst Toshiya Hari cited cited "ongoing concerns regarding the company's long-term competitive position in CPUs [central processing units]," as potentially weighing on "forward earnings expectations and the stock's multiple." Goldman is also bearish on Beyond Meat , The Wendy's Company , Qualcomm and Seagate Technology . When is comes to Seagate, the firm said in an Oct. 23 research report that it remains "cautious on the stock given the company's muted growth outlook relative to peers and potential downside." The firm envisions the data storage company earning $4.84 per share in 2021, below the consensus estimate of $5.31. On the flip side, Goldman Sachs identified a number of turnaround plays for 2021, with names like Las Vegas Sands and General Motors among the stocks making the list. - CNBC's Michael Bloom contributed reporting.

The logo of Apple company is seen outside an Apple store in Bordeaux, France, March 22, 2019.

Regis Duvignau | Reuters

(This story is for CNBC PRO subscribers only.)

With 2020 quickly coming to an end, Goldman Sachs screened its stock coverage universe for names that investors should nix from their portfolios in 2021.

The firm highlighted stocks that it has a sell rating on, and which have at least 10% total return downside according to its analysts. Goldman also believes each company carries the risk of an earnings miss, with the firm's 2021 earnings estimates at least 5% below consensus estimates.

Here are some of the names on the list: