Goldman Sachs goosed Apple's stock on Wednesday by placing it on the investment banking firm's "Conviction Buy List." Analyst Simona Jankowski told Wall Street that Apple should be valued more as a services company, rather than a hardware company, and issued a 12-month target of US$163 per share.
Apple delivered a strong message to Wall Street on Tuesday: your concerns over our business in China are much ado about nothing. During the company's quarterly conference call with analysts, Apple CEO Tim Cook took several opportunities to stress how robust sales are in China, and to say he believes it will become Apple's top market.
Apple posted record revenue and record earnings for the September quarter on Tuesday, beating expectations. The company posted revenue of $51.5 billion, well ahead of last year's $42.1 billion; the company also posted earnings of $11.1 billion, or $1.96 in earnings per share (EPS). Last year's profit was $8.5 billion with EPS was $1.42.
Shares of Apple Inc. dropped more than 3 percent on Monday, one day ahead of the company's fiscal 4th quarter earnings report. One of the primary sources of concern for Wall Street was China, a recurring theme for Apple, though the company has turned in excellent results in China every time the alarm bell has sounded.
Apple's 2015 fourth fiscal quarter earnings conference call is scheduled for Tuesday, October 27th at 5 PM eastern time. Investors and analysts will be paying close attention to the numbers Apple announces because the quarter included the first two days of iPhone 6s and iPhone 6s Plus sales.
Apple will most likely show off new iPhone and iPad models, along with a new Apple TV, at its September 9 media event, but Wells Fargo analyst Maynard Um thinks it may not live up to expectations. He sees a lack of a product line that brings in significant revenue like the iPhone as an issue, and that's not going to change next Wednesday.
Wells Fargo analyst Maynard Um upgraded Apple's stock rating to Outperform on Tuesday following Monday's rollercoaster market correction. He thinks Apple's stock dip yesterday was an overcorrection and that investors have a new buying window.
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Some days the stock market is a crazy roller coaster ride—like yesterday. Today, Wells Fargo thinks Apple is the ride to be on.
What happens when the stock market goes crazy and starts dumping value because of the market in China? If you're Tim Cook, you send an email to CNBC's Jim Cramer telling people to chill out. That's unheard of for Apple, and is probably a sign that—at least for a while today—the stock market really was that crazy.
Shares in Apple Inc. have taken a bit of a beating in the last two weeks of trading, losing some 12 percent of their value. The stock has been pressured by worries about iPhone growth, concern that Apple Watch won't be a revenue game changer, and ever-present concerns about China's economy, but what sent investors into a tizzy Tuesday was $AAPL falling below its 200 day moving average.
Apple reported revenues for the June quarter of $49.6 billion on Thursday, with earnings of $10.7 billion, or $1.85 earnings per share (EPS). The results exceeded Apple's own guidance and consensus estimates from Wall Street, and it was fueled by record third quarter sales of both Mac (4.8 million) and iPhone (47.5 million), all-time high revenue from services, and what Apple called "the successful launch of Apple Watch."
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