Apple (AAPL) 06 (Aug 23 - Dec 26)

[behappyalways]

Did you know that $AAPL iPhone sales peaked years ago in terms of volume? So the company has been hiking the price of the product to keep iPhone revenue numbers juiced. But who cares about any of that, they just announced $100B of buybacks
https://x.com/Mayhem4Markets/status/1918292032067395735

[winston]

not vested

Apple Inc - Stock Analyst Research
Target Price* US 200.00
Recommendation NEUTRAL

Apple Inc.- Tariff troubles and growth struggles

2Q25 results were within our expectations.

1H25 revenue/PATMI were at 51%/54% of our FY25e forecasts.

Revenue grew 5% YoY, mainly driven by growth in Services (+12% YoY), and gross margin expanded 0.5% YoY.

iPhone sales +1.9% YoY, with regional strength offset by continued weakness in China (-2.3% YoY).

We lower our FY25e and FY26e PATMI estimates by 2% and 4%, respectively, to account for the lower gross margin due to rising tariffs.

We adjusted FY25e and FY26e’s CAPEX by 1.2x and 2.3x to account for the higher investment in US operations.

We maintain our recommendation of NEUTRAL, with a lowered DCF target price of US$200 (previously US$235).

WACC of 6.5% and a terminal growth rate of 3% remain unchanged.

We maintain a cautious outlook on Apple, due to near-term headwinds from tariffs, elevated CAPEX, and persistent weakness in products and the China market.

Source: Phillips

https://www.poems.com.sg/stock-research/AAPL/

[behappyalways]

Most US-Bound iPhones Will No Longer Be Made In China, Says Apple
https://www.zerohedge.com/political/mos ... says-apple

[behappyalways]

Stocks Slide As Apple Exec Admits Efforts To Replace Google For AI Search
https://www.zerohedge.com/markets/stock ... -ai-search

[behappyalways]

Apple May Hike iPhone Prices For First Time Since 2017
https://www.zerohedge.com/technology/ap ... -time-2017

[behappyalways]

Trump Very Displeased With Tim Cook's 'Made-In-India' iPhone Blitz, Wants Production In US
https://www.zerohedge.com/markets/trump ... duction-us

[winston]

not vested

Apple Inc - Stock Analyst Research
Target Price* US 200.00
Recommendation NEUTRAL

Apple Inc. - AI is playing catch-up at WWDC

Apple held its annual Worldwide Developers Conference (WWDC) on 10 June, during which it unveiled a redesign across its platforms and updates to iOS 26, iPadOS 26, watchOS 26, macOS 26 (Tahoe), and visionOS 26.

Upgrades centered primarily on visual enhancements such as the new “Liquid Glass” design, along with minor software refinements

Few AI innovations were announced (AI translator, LLM accessibility to third-party developers, and Visual Intelligence), most of which trail behind rivals like Google, not enough to address growing competitive pressures.

Our valuations remain unchanged.

We maintain our NEUTRAL recommendation with an unchanged DCF target price of US$200. WACC of 6.5% and a terminal growth rate of 3% remain unchanged.

We maintain a cautious outlook on Apple, due to near-term headwinds from tariffs, elevated CAPEX, and no significant AI innovation to help with persistent weakness in products and the China market.

Source: Phillips

https://www.poems.com.sg/stock-research/AAPL/