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Morgan Stanley Lowers AAPL Target Despite Services Growth

Charlotte Henry ·

Morgan Stanley analyst Katy Huberty has lowered her target price for AAPL. However, according to a note seen be Apple 3.0, she did forecast that Apple Services revenue growth will increase by 6 points during 2021.

From a note to Morgan Stanley’s clients that landed on my desktop Tuesday: “Services strength drives estimates higher but peer multiple compression drives PT lower to $155 (from $164). Following strong March quarter App Store results and an analysis of the key drivers of Apple’s Licensing & Other segment, we raise our already above-street FY21 and FY22 Services revenue estimates by 3% and 5% respectively, and are increasingly convinced that consensus Services forecasts over the next 2+ years are too low. We now forecast Apple Services revenue growth accelerates by 6 points to +22% Y/Y in FY21, up from +19% Y/Y previously, nearly 4 points ahead of FY21 consensus Services growth of +18% Y/Y.”

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Chat App ‘Signal’ Beta Tests Crypto Payments With MobileCoin

Andrew Orr ·

For Signal users in the United Kingdom, the company is releasing a new feature for beta testing that lets people send payments to each other using the cryptocurrency MobileCoin (MOB).

There’s a palpable difference in the feeling of what it’s like to communicate over Signal, knowing you’re not being watched or listened to, versus other communication platforms. I would like to get to a world where not only can you feel that when you talk to your therapist over Signal, but also when you pay your therapist for the session over Signal.

The limitation is because MobileCoin is listed for purchase on only one exchange, FTX, which doesn’t allow trades from U.S. residents. I’ve never heard of MobileCoin before but I’d say it’s something to keep an eye on.

 

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John Ternus Now on Apple Leadership Website

Charlotte Henry ·

John Ternus has finally made his way onto the Apple Leadership website. iMore spotted the updated for the exec, who took over Senior Vice President of Hardware Engineering from Dan Riccio in January.

Now, Ternus has been formally added to the Apple Leadership website. Below is Apple’s profile of Ternus as is listed on his page: “John Ternus is Apple’s senior vice president of Hardware Engineering, reporting to CEO Tim Cook. John leads all hardware engineering, including the teams behind iPhone, iPad, Mac, AirPods, and more. John joined Apple’s Product Design team in 2001 and has been a vice president of Hardware Engineering since 2013. Throughout his tenure at Apple, John has overseen hardware engineering work on a variety of groundbreaking products including every generation and model of iPad, the latest iPhone lineup, and AirPods. He has been a key leader in the ongoing transition of the Mac to Apple silicon. Prior to Apple, John worked as a mechanical engineer at Virtual Research Systems. He holds a bachelor’s degree in Mechanical Engineering from the University of Pennsylvania.”