Analysts React to Apple’s Latest Results

Wall Street analysts were, as ever, quick to react as Apple revealed its latest round of results on Wednesday. Many of them focused on the growth in wearables. AppleInsider insider has a nice roundup of what many of the big names had to say.

Cowen and Company: Reiterating its “Outperform” rating on the stock the iPhone business is performing “better than market expectations in the near term.” The iPhone 11 product family “is being received well by consumers and this could drive a re-rating in shares,” the firm suggests, “especially as a potential low-cost SE2 in C1H20 and a 5G iPhone by C4Q20 could be additional catalysts in the coming year.” Rosenblatt Securities: The 1.58% year-on-year revenue increase is “mainly driven by the wearable segment” and primarily from AirPods, Rosenblatt claims, though this is of limited use to the company as it “does not bring much upside to iOS services” at all. “We believe the lack of upside to services from wearables is why the Street gives low multiples to wearable companies.”

Check It Out: Analysts React to Apple’s Latest Results

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