Apple

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: At its “Scary Fast” virtual event on Halloween eve, AAPL announces three new processors with the M3 chip family (M3, M3 Pro, M3 Max), upgraded 14- and 16-inch MacBook Pro laptops, and a new iMac. The M3 line-up based on 3nm offers considerably faster speeds/greater unified memory (up to 128GB) and better graphics (e.g., ray tracing; up to 2.5x faster GPU rendering). While most upgrades are internal in nature, the new MacBook Pro has an attractive-looking space black color option that should appeal to consumers. The 14-inch MacBook Pro w/M3 starts at $1,599 (M2 Pro version previously started at $1,999), while the 16-inch version has only M3 Pro and M3 Max options. The iMac w/M3 starts at $1,299 and Macs expected in stores 11/7. We think timing […]

Barclays analyst Tim Long maintains Apple (NASDAQ:AAPL) with a Equal-Weight and lowers the price target from $167 to $166.

B of A Securities analyst Wamsi Mohan reiterates Apple (NASDAQ:AAPL) with a Neutral and maintains $173 price target.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $220 is based on a P/E of 29x our CY 25 EPS estimate of $7.59, above peers given AAPL’s installed base and financial position. We hold our FY 23 (Sep.) EPS estimate at $6.01 while tweaking FY 24 to $6.56 from $6.61 and FY 25 to $7.20 from $7.30. Ahead of Sep-Q results set to be released after the close on 11/2, we look for EPS of $1.39 on revenue of $89.3B. We believe that Services (+8% Jun-Q/+5% Mar-Q) will accelerate in the Sep-Q/Dec-Q (+10%), benefiting from a higher installed base, China momentum, and improving app store/gaming/digital ad growth. We forecast iPhone sales will rise 2%-3% in the Sep-Q and 7% in the Dec-Q, on iPhone 15 momentum, higher Pro Max pricing,

AAPL unveils the iPhone 15 (two Pro versions), Apple Watch Series 9, and updated AirPods Pro. All phones have AAPL ditching the Lightning port in favor of USB-C (we see consumers embracing) and getting modest internal upgrades, camera enhancements, and new colors. The Pros have a new action button replacing the mute switch, a lighter titanium design, and faster A17 based on 3nm. AAPL boosts the premium 15 Pro Max price by $100 to $1,199, justifying it through more pronounced camera upgrades (5x optical zoom) and double the memory. The move could support modest upside (2%-3%) to our iPhone 15 revenue assumptions but we conservatively keep estimates unchanged. Sustaining the Pro price at $999 (we thought AAPL would also raise by $100) while still adding the best features to its two premium phones likely incites more consumers to pay up, supporting ASPs. We think easy comps along with healthy iPhone