Apple Earnings Margins Beat as iPhone, Airpods and Watch Revenue Soars

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  • #22964
    ThePitBoss
    Participant

    Consumer electronics giant Apple reported better than expected…

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    #23036
    Truman
    Participant

    [b]Apple Stores In China To Be Closed Longer Because of Coronavirus
    [/b]
    Apple originally intended to reopen stores on Feb 10 but changed tor Feb 13-15, according to a statement sent to Bloomberg.

    #23499
    ThePitBoss
    Participant

    Goldman downgrades Apple to sell as it forecasts 36% drop in iPhone shipments,

    Goldman Sachs said on Friday it expects iPhone shipment to drop 36% during the current quarter due to coronavirus-related lockdowns around the world and downgraded Apple Inc stock to “sell”.

    The Goldman analysts lowered their price target for the stock by 7% to $233 in its report forecasting the drop in iPhone demand for the quarter ending in June, Apple’s fiscal third quarter.

    “We do not assume that this downturn results in Apple losing users from its installed base. We simply assume that existing users will keep devices longer and choose less expensive Apple options when they do buy a new device,” Goldman Sachs analysts said in a note.

    A Goldman “sell” rating is relatively rare. Of the stocks in the investment bank’s global equity coverage universe, 15% have sell ratings, compared with 46% “buy” and 39% “hold.”

    Of the 40 analysts covering Apple shares, 30 have “buy” or “strong buy” ratings, seven have “hold” ratings, and three have “sell”, according to Refinitiv.

    Earlier this week, Apple released a smaller iPhone priced at $399, lowering the starting price for the company’s smartphone line to broaden its appeal among budget-conscious customers.

    Goldman said it does not expect the company to launch the upcoming iPhone models until early November, as limited global travel could impede Apple’s final engineering and production process.

    Since the S&P 500 hit an all-time high on Feb. 19, Apple shares are down about 13% against a 16% decline for the overall index.

    Market Summary > Apple Inc.
    NASDAQ: AAPL
    281.60 USD −5.09 (1.78%)
    Apr 17, 11:48 AM EDT

    #23730
    Truman
    Participant

    Apple Inc. (NASDAQ: AAPL) maintained as Outperform with a $350 target price at Wedbush Securities.

    Note says Apple caught between U.S. and China tensions after the U.S. Commerce Department blocked and banned shipments of semiconductors to Huawei and China now is ready to put U.S. companies such as Apple, Qualcomm and Cisco on an “unreliable entity list” as part of the country’s countermeasures.

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