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techkenyot.com January 17, 2019


Apple Stock Has 50% Upside, so Forget the Bears, Says Analyst

05 November 2018, 11:05 | Casey Mitchell

Apple Stock Has 50% Upside, so Forget the Bears, Says Analyst

Apple Stock Has 50% Upside, so Forget the Bears, Says Analyst

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.

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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.

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Apple's revenue from other products recorded the maximum growth, bringing in US$4.23 billion, up by 31% YoY.

On Friday, Apple's stock declined 6.6%, a day after it provided guidance for the holiday December quarter that fell short of Street expectations. Apple launched new MacBook Pros in July.

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