| From: Moonray | 7/15/2020 11:35:32 AM | | | | | | Apple price target raised on services, wearable drivers
By: Brandy Betz, SA News Editor - Jul. 15, 2020 9:11 AM
Needham Laura Martin sees Apple's (NASDAQ: AAPL) iPhone,
wearables, and services as "brand extension" categories that
lock users into Apple's ecosystem longer, driving long-term value.
Martin raises Apple's price target from $350 to $450, a 16% upside.
Services is a key upside driver due to its recurring and high-margin
revenue stream, writes Martin.
Martin is also optimistic about the "rising lifetime value (LTV) and
falling churn driven by services and ancillary product growth and
structural demand for shares by AAPL as they try to buy shares
worth approximately $90B of net cash plus $60-80B of annual FCF."
Needham maintains a Buy rating on Apple. The company has a
Bullish average Wall St. Analysts rating and $358.18 average price
target.
Related: Earlier today, the EU's General Court ruled Apple
doesn't have to pay €13B in Irish back taxes.
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| From: Moonray | 7/15/2020 11:41:46 AM | | | | | | BofA Raises Apple Price Target For Second Time In 5 Weeks
July 15, 2020
Apple Inc. (NASDAQ: AAPL) investors have had another big year
in a difficult environment in 2020, but one Wall Street analyst said
Wednesday that things could get even better for Apple in the
second half of the year.
The Apple Analys; t: Bank of America analyst Wamsi Mohan
reiterated his Buy rating for Apple and raised his price target
from $390 to $410.
The Apple Thesis Mohan, who previously raised his price target
from $340 to $390 in early June, said Wednesday that Apple has
too many traits of a good investment to ignore.
The company has arguably the world’s best balance sheet that
provides safety in an uncertain environment. It’s a tech story stock
with an imminent catalyst in 5G iPhones. It’s a large-cap tech stock
with relatively low regulatory risk. It benefits from passive inflows
and provides investors an alternative source of dividend income
while interest rates remain essentially at 0%.
At the same time, Mohan said Apple has extremely impressive
business fundamentals as well. App store revenue growth has
been robust, iPhone channel inventory is falling, iPhone demand
has been resilient, and Apple’s brand remains extremely strong
among its customers.
“While near term data points are getting more constructive, we
also think positioning has a significant role in the near term price
action,” Mohan wrote in a note.
Bank of America said third-party developer data suggests App
Store revenue grew roughly 30% in the fiscal third quarter. Mohan
is expecting 20% Apple Services revenue growth in the third
quarter and 18% growth for the full fiscal year. He is also projecting
17% Services revenue growth in fiscal 2021 and 15% growth in 2022.
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| To: Pete_Y_48 who wrote (209186) | 7/15/2020 5:39:44 PM | | From: clean86 | | | | News Media click bait.
If the headline said Apple replacing first China Store everyone would go yawn.
Say Apple Store closing for good and people click the link to see what's happening. |
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| From: Moonray | 7/16/2020 8:30:22 PM | | | | | | Apple target raised on 5G and Services potential
By: Brandy Betz - Jul. 16, 2020 8:56 AM ET
Joining the chorus of firms praising Apple's (NASDAQ: AAPL)
5G iPhone tailwind, Canaccord Genuity raises the company's
price target from $310 to $444.
The firm says Apple's positioning to "benefit from the long-term
5G investment cycle" will support results in 2021.
Growth in Apple's installed base will also drive ecosystem
services and hardware sales benefits, writes the firm.
Canaccord expects Services revenue to outpace Apple's
total growth.
Canaccord maintains a Buy rating on Apple.
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