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Best Dow Jones Stocks to Buy: Apple (AAPL)
Apple shares have suffered a 9% pullback from their recent high after excitement surrounding the iPhone X unveiling gave way to nervousness about production delays, tepid iPhone 8 demand and LTE connectivity problems with the Apple Watch.
While the surge of deliveries probably won’t occur until early 2018, the demand for the iPhone X will likely exceed expectations and mark a repeat of the iPhone 6 “super cycle” of 2014.
This is the first new form factor in three years. It contains a number of new technologies vs. the incremental updates seen to date. And pressure from a high price is alleviated by the transition from a subsidized purchase to a lease to own model.
The company will next report results on Oct. 31 after the close. Analysts are looking for earnings of $1.88 per share on revenues of $50.9 billion.
When the company last reported on Aug. 1, earnings of $1.67 beat estimates by 10 cents on a 7.2% rise in revenues.
Source: Investor Place