Apple

Barclays analyst Tim Long maintains Apple with a Underweight and lowers the price target from $160 to $158.

Apple posted a sales increase for the all-important holiday quarter, ending a recent slump that had been one of the company’s worst earnings streaks in more than two decades. On Thursday, Apple reported revenue of about $120 billion, up 2.1% from the October-to-December period a year earlier, and net income of $34 billion, up 13%. Both of those figures exceeded analyst expectations, according to FactSet. Apple’s crucial iPhone business grew nearly 6% from the same year-ago quarter, with $69.7 billion in sales versus the $67.6 billion analysts had projected. Apple said it has surpassed 2.2 billion active devices for its products. “This is obviously the engine for the company and for the future,” Chief Financial Officer Luca Maestri said in an interview. Shares fell by about 3% in after-hours trading. Apple’s results underscored the strong performance this earnings season of the largest technology companies, especially among those that are infusing

In possibly the first public confirmation, Apple Inc. (NASDAQ:AAPL) CEO Tim Cook has said that the company plans to appeal the ban on its Apple Watch, rather than settle with Masimo Corp. (NASDAQ:MASI). What Happened: Despite the ongoing patent dispute with Masimo, Apple continues to sell its Apple Watch Series 9 and Ultra 2 in the U.S., albeit with the contested blood oxygen feature disabled. In the interview with CNBC, which followed the release of Apple’s fiscal Q1 2024 earnings, Cook said that the company has no intention of licensing Masimo’s technology to resolve the issue, reported AppleInsider. “We’re focused on appeal,” said Cook in a statement, according to the report. “There’s lots of reasons to buy the watch even without the blood oxygen sensor.”

Apple Inc.’s (NASDAQ:AAPL) first-generation mixed-reality headset, Vision Pro, is set to release on Friday. While the headset has created a stir in the tech landscape, many are concerned about its high price point. Now Tim Cook has defended the same during the company’s first quarter 2024 earnings call. What Happened: During the call, Cook was asked by Wamsi Mohan from Bank of America, considering that Vision Pro has a much higher price point, is there a way Apple plans to measure the success of the headset and which “Apple products’ adoption curve would you look at as potentially the most similar.” In response, the Apple CEO said that every product follows its unique path and he wouldn’t prefer to draw comparisons with any specific one. “We’ll see and report the results of it in the Wearables category that you’re familiar with.” Cook said, “I think that if you look at it from a price point of view, there’s

The following is a summary of the Apple Inc. (AAPL) Q1 2024 Earnings Call Transcript: Financial Performance: Apple reported a Q1 revenue of $119.6 billion, up 2% year over year, with an EPS of $2.18, a 16% increase compared to the previous year. Record services revenue was achieved, increasing 11% year-over-year to $23.1 billion. Mac’s and iPhone’s revenue increased by 1% and 6% respectively, while iPad’s revenue declined by 25% due to difficult year-over-year comparisons. Gross margin was at 45.9%, up by 70 basis points, and the net income was $33.9 billion, an increase of $3.9 billion from last year. Operating cash flow came in strong at $39.9 billion, and shareholders saw a return of nearly $27 billion. Business Progress: Apple saw strong growth in many emerging markets, setting all-time revenue records in over two dozen countries. A new device, Apple Vision Pro, will soon be available in stores with

Apple (NASDAQ:AAPL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 1.92% Rosenblatt → $189 Reiterates Neutral → Neutral 01/31/2024 34.81% Wedbush → $250 Reiterates Outperform → Outperform 01/30/2024 34.81% Wedbush → $250 Reiterates Outperform → Outperform 01/18/2024 21.33% B of A Securities $208 → $225 Upgrades Neutral → Buy 01/10/2024 7.85% Redburn Atlantic → $200 Downgrades Buy → Neutral 01/04/2024 10.54% Piper Sandler $220 → $205 Downgrades Overweight → Neutral 01/03/2024 -10.49% DA Davidson → $166 Initiates Coverage On → Neutral 01/02/2024 -13.72% Barclays $161 → $160 Downgrades Equal-Weight → Underweight 12/20/2023 34.81% Wedbush → $250 Reiterates Outperform → Outperform 12/11/2023 34.81% Wedbush $240 → $250 Maintains Outperform 12/08/2023 18.63% Morgan Stanley $210 → $220 Maintains Overweight 11/24/2023 29.42% Wedbush $240 → $240 Reiterates Outperform → Outperform 11/16/2023 29.42% Tigress Financial $225 → $240 Maintains Strong Buy 11/03/2023 1.92% Rosenblatt $198

Apple (NASDAQ:AAPL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/30/2024 32.66% Wedbush → $250 Reiterates Outperform → Outperform 01/18/2024 19.4% B of A Securities $208 → $225 Upgrades Neutral → Buy 01/10/2024 6.13% Redburn Atlantic → $200 Downgrades Buy → Neutral 01/04/2024 8.78% Piper Sandler $220 → $205 Downgrades Overweight → Neutral 01/03/2024 -11.91% DA Davidson → $166 Initiates Coverage On → Neutral 01/02/2024 -15.1% Barclays $161 → $160 Downgrades Equal-Weight → Underweight 12/20/2023 32.66% Wedbush → $250 Reiterates Outperform → Outperform 12/11/2023 32.66% Wedbush $240 → $250 Maintains Outperform 12/08/2023 16.74% Morgan Stanley $210 → $220 Maintains Overweight 11/24/2023 27.35% Wedbush $240 → $240 Reiterates Outperform → Outperform 11/16/2023 27.35% Tigress Financial $225 → $240 Maintains Strong Buy 11/03/2023 0.29% Rosenblatt $198 → $189 Maintains Neutral 11/03/2023 27.35% Wedbush → $240 Reiterates Outperform → Outperform 11/03/2023 11.44% Morgan Stanley $210

Apple (AAPL) will need to keep iPhone price cuts in place in China to continue clear inventory amid soft demand, UBS said in a note emailed Monday. With an excess inventory build of 2 million to 3 million iPhone units in China in the December quarter, risk shifts to the March quarter, UBS said. Analysts polled by Capital IQ estimate fiscal Q1 revenue of $118.3 billion and Q2 sales of $96.2 billion. UBS is forecasting Q1 revenue of $117.8 billion and expects the company to book roughly $1 billion more in sales than the projection. UBS has a neutral rating on Apple with a 12-month price target of $190.

By Denny Jacob Apple, Starbucks and General Motors are among the companies reporting earnings in the coming days, providing investors clues as to whether accelerated consumer spending will continue to bolster the U.S. economy. Microsoft will reveal its results Tuesday, while Google parent Alphabet and e-commerce giant Amazon.com will report Tuesday and Thursday, respectively. The tech juggernauts are among the “Magnificent 7” companies expected to help drive S&P 500 earnings higher after the index reached a record. Apple will report Thursday. Microsoft has dethroned the iPhone maker as the largest U.S. company by market value. Apple’s share price has recovered after a slow start to the year amid concerns about sluggish sales. Boeing is set to report Wednesday after regulators put limits on the jet maker’s production of 737 MAX aircraft following a midair incident on an Alaska Airlines flight earlier this month that reignited air-safety concerns. The fallout from

Apple (AAPL) is likely to ship and sell nearly 600,000 Vision Pro mixed-reality headsets this year, up from an initially estimated 460,000 units, following a “very impressive” launch, Wedbush Securities said Wednesday. The brokerage’s initial estimates suggest the technology giant sold “close to” 180,000 Vision Pro units over the weekend, Wedbush analysts, including Daniel Ives, said in a note. “While many on the Street are dismissing Vision Pro as noise, we strongly disagree.” “We believe this is just the start for this new form factor, with our industry checks showing the next version of Vision Pro 2 will have much lower price points in the sub $2k area code, as Apple looks to push more aggressively towards its golden installed base,” the analysts said. Wedbush maintained its outperform rating and $250 price target on the Apple stock.

Analysts at J.P. Morgan have cautioned investors against using the lead times for the Apple Inc. (NASDAQ:AAPL) Vision Pro as a measure of its popularity. They suggest that the focus should be on customer feedback and future supply chain plans. What Happened: The Apple Vision Pro, set to be released on Feb. 2, has seen a surge in pre-orders, with shipping dates being pushed back to March and April, reported AppleInsider on Monday. Despite the extended shipping times, some investors are using this as a gauge of the device’s popularity. However, J.P. Morgan analysts have advised against this approach, emphasizing the importance of customer feedback and future supply chain plans. The note from J.P. Morgan, seen by AppleInsider, states that the focus on lead times is misplaced. Instead, the emphasis should be on the consumer experience of the device. The note also highlights the significance of supply chain feedback for the Vision

Apple is expected to get a boost to iPhone sales from the rise in artificial intelligence. Bank of America Securities analyst Wamsi Mohan says in a research note that a large share of the company’s current installed base uses older iPhone models, and those models will likely require upgrades in order to use AI enabled apps in coming years. Mohan raises his estimates for fiscal 2024, 2025 and 2026 iPhone sales off the back of this demand. He sees the company’s risk around legal issues as manageable and says “relative underperformance suggests many risks baked into expectations.” He upgrades shares to buy from neutral and lifts price target to $225 from $208. Shares rise 2.4% to $187.01.