Apple posted its first sales drop since 2019, but analysts say the tech titan's stock is still set to climb nearly 30% over the next year
The stock was up about 1% as Friday trading got underway, but it had been down as much as 2.7% during premarket trade.
"In a nutshell, we would be buyers of this unique tech stalwart and believe Cupertino is a Rock of Gibraltar tech stock in a stormy macro," he said. Demand in the Chinese market into 2023 and potential for gross margin expansion supported Wedbush's decision to raise its Apple price target to $180 from $175 and maintain its outperform rating. "We also note that Apple now has an installed base of 2 billion devices with roughly 1.2 billion iPhones worldwide.
He said Apple offered"guiderails for modelling" in the coming quarter and that its March revenue growth view is below the $96.9 billion consensus estimate. The Jefferies analyst said it expected to see iPhone units coming in below Street expectations but higher average selling prices helps and carries forward into the March quarter. Manufacturing output normalizing is also among the catalysts for the stock.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
LG brings Apple TV and Apple Music apps to more third-party webOS TVs | EngadgetApple TV, Apple Music and other Apple services are coming to third-party webOS TVs..
Baca lebih lajut »
Apple Misses Earnings Expectations, But Sets Revenue Record For Services BusinessApple Services, which encompasses Apple TV+, Apple Music, Apple Arcade and more, came in at $20.8 billion for the three months ended Dec. 31, up from $19.5 billion a year earlier.
Baca lebih lajut »
LG brings Apple TV, Apple Music, AirPlay to webOS Hub-based TVs | Digital TrendsLG has added Apple's most popular streaming apps and services to its webOS Hub, a version of the smart TV software licensed by third parties.
Baca lebih lajut »
The Best Local Shops for Valentine’s Day Chocolate Around DC - WashingtonianYou can't buy love, but you can buy your love great chocolate.
Baca lebih lajut »
You Can Still Buy a New Rolls-Royce in Russia, Nearly a Year After Sanctions HitThe company has officially left Russia, but the country has proven adept at dodging Western sanctions.
Baca lebih lajut »
Samsung's Galaxy S23 phones are already up to a whopping $780 off at Best BuyBest Buy is giving away free storage upgrades, gift cards, and more with Samsung Galaxy S23 pre-orders.
Baca lebih lajut »