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Technology Stocks : Apple Inc.
AAPL 275.15+1.4%Dec 13 4:00 PM EST

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From: Moonray11/19/2019 11:45:16 AM
3 Recommendations

Recommended By
J.F. Sebastian
NAG1
Stock Puppy

   of 207083
 
Apple's iPhone unit trends remain 'solid'

Credit Suisse analyst Matthew Cabral tells investors in a research
note that nearly two months into the iPhone 11 cycle, data points
continue to suggest a meaningful improvement in units y/y.

Government data suggests iPhone units are up 6% y/y in China
over September and October combined, with Cabal adding that
his firm's tracking data suggesting the iPhone has yet to hit full
supply/demand balance eight weeks post-launch.

While Cabral says he is "on board" with the idea that the shift
toward Services deserves a higher multiple over time, he
"struggles" with continued P/E expansion seemingly led by
firming iPhone data points rather than Services-driven upside.

The analyst keeps a Neutral rating and $221 price target
on Apple shares.



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