What Analysts Are Saying About Apple’s Earnings
Tech giant Apple’s shares have soared, after the company reported better than expected earnings. Moreover, the company also reported better than expected revenue during the previous quarter. Moreover, Apple also revealed that its iPhone sales were better than expected. Though they were not that better, they still showed some signs of improvement.
However, if we talk about Apple, we can say that the company’s stock has a history of sell off during the trading day and then a higher opening gap during the earnings.
Once Apple reported its earnings, a lot of investors and analysts had many things to say. We have summed up some of the most important comments from the analysts and here they are:
Bank Of America
Bank of America is the leading bank in the US. The bank said that there are five reasons why the company’s stock is going to out perform. Amongst these reasons are the high iPhone demand and better than expected demand for the phone. Another reason could be the strong capital returns while strong demand of its wearable products such as the AirPods and others could also have a major impact on the company.
Morgan Stanley also had to share its point of view on Apple and its earnings. The firm said that Apple has showed better than expected earnings, which is a positive sign. Moreover, it also said that if Apple continues with its smartphone replacement cycles and even if they lengthen, we could predict that Apple will still deliver a 4 percent revenue and an EPS growth of 16% per share in the coming three years.
RBC did not hold back when it was talking about Apple and its earnings. RBC said that Apple is not just about the iPhone only and its trajectory is growing despite it. RBC had some positive words for the tech giant just like all of the other big names did.
Other companies, firms and banks that commented on Apple’s earnings were Deutsche Bank, UBS, Barclays and others. Apple has therefore, helped in gaining the trust of analysts and investors, as everybody feels positive about the tech giant after today.