The 5-star analyst raised 3Q:FY20’s expected revenue from $51.85 billion up to $53.53 billion, along with raising the EPS forecast from $1.93 to $1.99.
Looking further ahead to Apple’s anticipated September launch of its flagship product, the iPhone 12, White acknowledges the launch may be delayed but “would be surprised,” should it be pushed back to next year.
White remains firmly with the bulls, and summarized, “Although we expect Apple to remain challenged in the current economic environment, we believe Apple’s strong balance sheet, iconic brand, rapidly growing services business, pipeline of innovations, hardline stance on personal privacy and leadership role during this crisis will allow the company to emerge from this downturn stronger than it entered.
Accordingly, White reiterated a Buy on Apple, along with a $370 price target, which implies nearly 26% upside from current levels. (To watch White’s track record, click here)
White's bullish stance on Apple is in line with Wall Street’s view. Apple has a Strong Buy consensus rating, based on no less than 27 Buy ratings set in recent weeks. Shares are trading for $293.16, and the stock’s recent strong gains have pushed that price close to the average price target of $320.07, leaving a 9% upside from current levels.
NEW YORK, May 4 Reuters) - A late Wall Street rally is expected to lead Asian stocks higher on Tuesday after tech shares and oil rose on easing coronavirus restrictions and prospects of an economic recovery, overcoming concerns about renewed Sino-U.S. trade tensions.
Futures on major U.S., Hong Kong and Australian indexes were up about 0.3% in early Asia trade after major Wall Street indexes ended up Monday. The tech-heavy Nasdaq Composite closed up 1.2%.
Oil rose as much as 5% as countries announced they would began easing coronavirus lockdowns and crude supply cuts took effect.
The upturn for stocks came on more optimistic statements from the governors of California and New York for reopening businesses. Andrew Cuomo of New York on Monday outlined a phased reopening in the U.S. state hardest hit by the COVID-19 pandemic.
"Can you lift restrictions and begin to phase in economic activity and yet keep the number of cases at bay? That is what the market is focused on right now," said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.
Bloomberg) -- U.S. companies are looking to set a third straight record month for bond issuance, with Apple Inc. and Avis Budget Group Inc. among the first out of the gates Monday.
Apple brought an $8.5 billion sale after skipping its forecast for the first time in more than a decade, while rental car company Avis is seeking to raise $400 million. The tech giant was one of 10 investment-grade borrowers selling bonds Monday, in what some see as the start of another record month for supply.
Companies have been borrowing at a rampant pace to shore up cash during the pandemic, with global lockdowns still largely in effect. Many are tapping the bond markets right after reporting earnings, where it’s become the norm to scrap financial estimates for the rest of the year.
Joseph Bland said: OT, but this reported today on MarketWatch:
“Apple Inc. (AAPL) is planning a four-part bond deal on Monday, according to a regulatory filing. The iPhone maker is planning to issue notes that mature in 2023, 2025, 2030 and 2050, the filing shows. Goldman Sachs, BofA Securities, J.P. Morgan and Morgan Stanley are underwriters on the deal, proceeds of which will be used for general corporate purposes, including share buybacks and dividends, for working capital, capex, acquisitions and to repay debt. The filing did not specify how much the company is aiming to raise. The company has regularly tapped the bond market to fund its shareholder rewards program. Apple shares were up 0.2% premarket and have fallen 1.6% in the year to date, outperforming the Dow Jones Industrial Average (^DJI) which has fallen 17% and the S&P 500 (^GSPC) which has fallen 12%.”
My take: This is why we didn’t see a $100 B increase for Apple’s stock buyback cash increase, but “only” a $50 B increase. The plan all along was to take advantage of the extremely low cost of borrowing, a cost that is bound to decrease going forward. Why dump cash when you can take advantage of nearly-free money?
Whether Apple increases its debt or decreases its cash, the goal is still net neutral cash-to-debt. And this way, it actually increases the stash of cash it will keep for any future rainy days.
Another genius move by Apple that will pass over the heads of almost every so-called business analyst….
It would appear to be a misleading headline based on the following paragraph:
"There are a couple of reasons why Apple has been unable to price the iPhone SE at $399 (roughly 30,500 rupees) in India. First, the Indian rupee has depreciated strongly this year in comparison to the U.S. dollar -- making imports expensive. Second, the Indian government levies a basic import duty of 20% on iPhones. Last month, the government added a 10% service tax on top of the existing import duty, a move that made iPhones even more expensive in India."
Like I said yesterday, I'll take a test drive (to $300) over a hair cut (to $290) any day of the week.
Glad to have it today. I needed a little psychological lift, to keep things all in perspective. Sometimes, the little things that just don't matter get you down. As a reminder, if dealing with a Trust, whether it's your own, a friends, a family member, etc, get it all in order. And make sure that it should work out the way you expect it to. The simpler you make it, and the more you take care of beforehand, the easier things will be.
Thanks Apple, and AAPL, for all that you've done over the decades. Nice to lock in that bond price!
We have the choice to build this board up, or tear it down. Make the right choice, or don't post here.
To All: Please remember to keep non-Apple SPECIFIC political stuff out of the daily thread. Post it over in the Dungeon, if you really want to discuss it with others on the AAPL Finance Board.
mercel: It's been a long strange trip - good to see you're still around (and in AAPL -my assumption).
May 10, 2019 12:48:32 GMT -5
Zeke: Long time no see. Nice to see familiar names still here.
Mar 25, 2019 14:42:52 GMT -5
sponge: Regarding the future of VR, I think it will be huge. I was a gamer when I was in college. But as an adult I lost interest. Last fall I flew up to visit my son at college and check out his new Vive set up. After playing with it for the weekend, I was
Apr 29, 2018 15:25:17 GMT -5
galleybob: thanks for your answer. I will copy and send to her
Nov 7, 2017 15:32:18 GMT -5
rickag: So since Jan 28th 2015 AAPL is up from 117.27 to 157.21
Aug 21, 2017 20:09:43 GMT -5
artman1033: VXAPL = 29.21 AAPL = $117.27 AFTER EARNINGS
Jan 28, 2015 14:54:46 GMT -5
artman1033: VXAPL = 44.94 AAPL = $110.39 BEFORE EARNINGS
Jan 27, 2015 11:12:53 GMT -5