Apple (AAPL) 05 (Aug 18 - Jul 23)

[winston]

not vested

Citi analyst on Apple: 'We like the stock here at these levels'

by Brian Sozzi

New AR/VR glasses in 2023, a fresh push into India and a stepped-up pace of share repurchases and dividends.

Source: Yahoo Finance

https://finance.yahoo.com/news/citi-ana ... 44345.html

[winston]

not vested

Citi analyst on Apple: 'We like the stock here at these levels'

by Brian Sozzi

New AR/VR glasses in 2023, a fresh push into India and a stepped-up pace of share repurchases and dividends.

Source: Yahoo Finance

https://finance.yahoo.com/news/citi-ana ... 44345.html

[behappyalways]

Apple Tells Suppliers To Build Fewer Components For AirPods, Watches, And MacBooks, Nikkei Asia Says
https://www.zerohedge.com/markets/apple ... -asia-says

[winston]

not vested

Apple’s stock is losing its shine after an ugly month of December

by Jeran Wittenstein

Delays in production of iPhones and concern that demand is weakening as the economy slows.

Fwd PE 20.

Apple told several suppliers to make fewer components for a number of products, given weakening demand.

Foxconn Technology Group has brought the world’s largest iPhone plant to about 90% of anticipated peak capacity.

The average target price for the next 12 months has dropped to about US$173 from US$191 in March.

Source: Bloomberg

https://www.theedgemarkets.com/node/650497

[behappyalways]

Apple Wants to Recreate Its ‘iPhone City’ Supply Chain Outside China | WSJ
https://m.youtube.com/watch?v=M6mCtmcbNDU

[winston]

not vested

Apple Slides On Rare Earnings Miss, iPhone Sales Decline

Apple AAPL shares edged lower in pre-market trading after the tech giant posted its first quarter earnings miss in six years as supply chain snarls in China limited the availability of its high-end iPhones in U.S. stores and clipped holiday sales.

The company said iPhone sales, however, would accelerate over the three months ending in March, adding that overall gross margins would improve to between 43.5% and 44.5%.

For the three months ending in December, the group's fiscal first quarter, Apple said earnings were pegged at 88 cents per share down 58% from the same period last year and well shy of the Street consensus forecast of $1.94 per share.

Group revenues, Apple said, fell 5.5% from last year to $117.15 billion, again missing analysts' estimates of $121.2 billion.

"We believe overall given the supply chain disaster that Apple saw this was better than feared iPhone number and ultimately more of a supply issue than a demand issue," said Wedbush analyst Dan Ives.

Source: The Street

[winston]

not vested

Apple, Inc. (AAPL) – Announced Thursday, February 2

Apple’s earnings results for its first quarter in fiscal year 2023 came in at $1.88 per share, which was 3.1% below analysts’ estimates for earnings of $1.94 per share.

Quarterly revenue of $117.2 billion was down 5% year-over-year and missed analysts’ expectations of $121.2 billion by 3.3%.

iPhone sales declined to $65.8 billion and missed Wall Street’s estimates of $68.3 billion. Meanwhile, iPad revenue came in at $9.4 billion, beating estimates of $7.7 billion despite ongoing supply chain constraints.

Also important to note: Apple’s revenue for its Services business, which includes music and video subscriptions and sales from its App Store, hit an all-time high, coming in at a record $20.8 billion and above analysts’ expectations for $20.4 billion. For its December quarter, paid subscriptions were 935 million.

CEO Tim Cook stated, “As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values in everything we do.”

Source: Markets 360

[winston]

not vested

Apple Inc. – Hurt by supply constraints and FX

PSR Recommendation: BUY
Target Price: 186

1Q23 revenue/PATMI was a modest miss to our expectations at 28%/29% of our FY23e forecasts.

Services was the fastest growing segment with 6.4% YoY rise despite the ~7% currency headwinds.

Gross margin expanded by 70 basis points.

2Q23 guidance is for revenue YoY decline of around 5% with stronger QoQ gross margin.

We cut our FY23e revenue by 5% and PATMI by 1% to account for expected decline in hardware revenue.

We maintain a BUY rating with a lowered target price of US$186.00 (prev. US$190.00), with a WACC of 6.5%, and a terminal growth rate of 3%.

Apple is facing currency headwinds and weaker hardware sales, namely Mac and wearables, from a softening macroeconomic environment.

iPhone sales are expected to recover with supply chain normalizing and services continues to build up its user base with 150mn new subscriptions in 2022.

Source: Phillips

https://www.stocksbnb.com/reports/apple ... ts-and-fx/

[winston]

not vested

Apple's latest iPhones are selling at discounts of more than US$100 in China, an unusually steep price cut just months after launch that suggests dwindling demand for even its highest-end devices.

JD.com and state carrier China Mobile are among the retailers taking 800 yuan (S$156) off the iPhone 14 Pro range over 11 days.

Retailers in the southern electronics hub of Shenzhen have also begun cutting prices for the same handsets by 700 yuan, the official China Securities Journal reported after visiting outlets around the city.

Apple’s own local website, meanwhile, continued to offer devices at regular prices.

The discounting emerged around the end of the Chinese New Year season when retailers gear up for a holiday shopping spree before schools reopen.

While it’s unclear how long the cuts may persist, they point to weak demand in the world’s largest smartphone arena just as Apple is counting on a recovery in China.

Unusually, the roughly 7 per cent to 9 per cent discounts on the iPhone Pro range mirrored bargains offered on lower-end models, which typically get cut first.

Source: Phillips

[behappyalways]

蘋果拉警報? 中國iPhone促銷救買氣 14Pro有感降價起售價剩7199元 14Plus面板出貨量慘跌至"0"｜記者 劉馥慈 林書賢｜【國際大現場】20230206｜三立新聞台
https://m.youtube.com/watch?v=22QQFR-Zim8

not vested

Apple's latest iPhones are selling at discounts of more than US$100 in China, an unusually steep price cut just months after launch that suggests dwindling demand for even its highest-end devices.

JD.com and state carrier China Mobile are among the retailers taking 800 yuan (S$156) off the iPhone 14 Pro range over 11 days.

Retailers in the southern electronics hub of Shenzhen have also begun cutting prices for the same handsets by 700 yuan, the official China Securities Journal reported after visiting outlets around the city.

Apple’s own local website, meanwhile, continued to offer devices at regular prices.

The discounting emerged around the end of the Chinese New Year season when retailers gear up for a holiday shopping spree before schools reopen.

While it’s unclear how long the cuts may persist, they point to weak demand in the world’s largest smartphone arena just as Apple is counting on a recovery in China.

Unusually, the roughly 7 per cent to 9 per cent discounts on the iPhone Pro range mirrored bargains offered on lower-end models, which typically get cut first.

Source: Phillips