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Apple Stock Has 50% Upside, so Forget the Bears, Says Analyst
05 November 2018, 11:05 | Casey Mitchell
Apple expects fiscal first-quarter 2019 revenue to be between $89 billion and $93 billion
The iPhone still looms large over Apple's fortunes, accounting for more than 60 percent of revenues.
"If you go to the market and you push your cart up to the cashier and she says, or he says, 'How many units you have in there?' It doesn't matter a lot how many units there are in there in terms of the overall value of what's in the cart". The company sold fewer iPhones than analysts expected, but revenue was up thanks to their higher selling price.
To make sure that people can no longer chart the death of Apple's iPhone cash cow, Apple is going to keep its numbers secret. That decline, combined with a reduction in the number of shares outstanding after accounting for repurchases during Apple's fiscal fourth quarter, erased almost $90 billion in market value. Apple raised prices on most of the devices, a relatively recent strategy to offset slowing unit sales growth. The most notable message came during the earnings call where Cook revealed that it is looking to set up retail stores and expand local manufacturing in India.
One of Rona’s two Kingston stores closing
Others and the Canadian stores are expected to close by February 1, the end of the company's fiscal year. Lowe's also plans to close its regional support centres in Mississauga, Ont., and St.
George Salmon, an analyst at Hargreaves Lansdown said that Apple was charging close to $800 per phone, and while that's helping revenues climb despite flat sales volumes it can not last. The company is working on digital newspaper subscriptions and original video content for next year.
Apple slid 3.3 per cent on Monday, adding to the stock's near 7 per cent fall on Friday, after the Nikkei reported the company has told two smartphone assemblers to halt plans for additional production lines dedicated to the lower-cost iPhone XR, according to Reuters. In terms of revenue, Apple broke its own record with $62.9 billion, 20% up from a year ago.
Mike Levin, co-founder of Consumer Intelligence Research Partners LLC, a market-research firm that surveys Apple customers, said the change shows Apple executives are thinking about their business in ways they haven't wanted to say aloud. Shares in Facebook Inc, Amazon.com Inc, Netflix Inc and Google-owner Alphabet Inc all rose on a generally buoyant Wall Street. Apple's resilience was all the more impressive considering the company is exposed to China at a time of escalating trade tension with the U.S.
Iran vows to 'proudly bypass' US sanctions
The reimposition of the sanctions came as the U.S.is focused on Tuesday's congressional and gubernatorial elections. The new sanctions will particularly hurt Iran's oil industry, a crucial source of money for its anaemic economy.
Dodgers re-sign Freese to one-year deal
But Kershaw indicated that he had little interest in uprooting his family out of its in-season home or inking a longer contract. Had the Cubs declined the option and paid a $6 million buyout, the Rangers would have paid the Cubs an additional $6 million.
Eddie Jones backs Owen Farrell to avoid citing
You've got to understand where they are weak, where they are strong, and you've got to be disciplined about your game plan". If you lose a game like that, it's harder to pick the players up. "We're happy, they're not so happy".
NBC says it will stop airing Trump immigrant ad
NBC and Fox News announced on Monday that they would stop airing a controversial immigration ad from the Trump campaign. Fox's decision follows NBC saying earlier Monday that it had erred in running the ad.
JAL pilot admits being almost 10 times over alcohol limit
He appeared in court in London on Thursday and pleaded guilty to exceeding the alcohol limit, according to the BBC . For comparison, the legal limit for drivers in England and the U.S.is 80 mg per 100 ml of blood, a BAC of 0.08%.