Followers | 690 |
Posts | 144011 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Tuesday, January 02, 2024 9:39:33 AM
By: Investing | January 2, 2024
Barclays analysts downgraded the rating on Apple (AAPL) stock from Equal Weight to Underweight, expressing concerns about a prolonged period of weak results and the potential for multiple expansion not being sustainable.
Barclays is also going against the consensus as it anticipates higher Services-related risks in 2024. In response to these risks, Barclays cut the rating and set a price target of $160 per share on AAPL stock, which signals a near 17% downside risk.
Apple shares (NASDAQ:AAPL) kicked off the new trading year about 3% lower in response to the news.
Barclays made adjustments following recent checks, revealing concerns about iPhone volumes, mix, and a lack of rebound in Macs, iPads, and wearables. The latest data points from China, particularly related to the iPhone 15, indicate a more challenging environment, coupled with ongoing softness in developed markets.
While there is some strength in emerging markets, it is insufficient to offset broader weaknesses.
“IP15 has been lackluster and we believe IP16 should be the same,” analysts said in a note to clients.
Despite expectations for a largely in-line December quarter, analysts also revised their estimates for the March quarter below consensus. The bank anticipates the March quarter to align closely with seasonal trends, contrary to the Street's more optimistic modeling that remains 10 points above seasonal expectations.
Notably, Barclays has lowered revenue estimates for iPhones and Wearables in the March quarter, resulting in a decline in revenue and earnings per share in the low single digits compared to previous estimates.
On the Services front, analysts noted that while the App Store is experiencing 10% growth in the December quarter, this rate is expected to decelerate to the mid-single digits by the September 2024 quarter.
“We expect reversion after a year when most quarters were missed and the stock outperformed,” analysts concluded.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent AAPL News
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 10/04/2024 09:04:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2024 10:31:01 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2024 10:30:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2024 10:30:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2024 10:30:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2024 10:30:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 10/02/2024 08:20:05 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 10/02/2024 08:17:54 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 10/02/2024 08:05:41 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 10/02/2024 08:05:03 PM
- Form 5 - Annual statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/01/2024 10:35:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/01/2024 10:34:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/01/2024 10:34:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/01/2024 10:33:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/01/2024 10:32:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/01/2024 10:31:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/01/2024 10:30:45 PM
- Apple launches new professional learning resources for teachers and expands global education grant program • Business Wire • 10/01/2024 01:00:00 PM
- Visa Faces Monopoly Lawsuit; Meta Introduces Celebrity Voices for Chatbot; Stellantis on the Hunt for New CEO • IH Market News • 09/24/2024 10:15:50 AM
- Nike Shares Surge 7% Pre-Market as Elliott Hill Becomes CEO; FedEx Shares Tumble 13% After Profit Miss • IH Market News • 09/20/2024 10:02:58 AM
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Microsoft Boosts Share Buyback, Raises Dividends by 10%, Intel Secures Chip Deal with Amazon • IH Market News • 09/17/2024 10:40:35 AM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/10/2024 01:06:34 PM
- Apple Loses EU Dispute; Google’s $2.7 Billion Fine Upheld; Oracle Shares Surge 9% • IH Market News • 09/10/2024 10:02:31 AM
North Bay Resources Announces Assays up to 5 oz/ton Gold, 1.5 oz/ton Platinum, 0.5 oz/ton Palladium, and 0.5 oz/ton Rhodium at Mt. Vernon Gold Mine, Sierra County, California • NBRI • Oct 4, 2024 9:15 AM
Basanite, Inc. Appoints Ali Manav as Interim Chief Executive Officer • BASA • Oct 3, 2024 9:15 AM
Integrated Ventures Announces Launch of MedWell Facilities, LLC and Lease Agreement with Giant Fitness Clubs • INTV • Oct 3, 2024 8:45 AM
Beyond the Horizon: Innovative Drug Combinations Offer New Hope for Alzheimer's and More • NVS • Oct 3, 2024 8:45 AM
SMX and FinGo Enter Into Collaboration Mandate to Develop a Joint 'Physical to Digital' Platform Service To Enhance Natural Rubber Industry's Ability to Report on Sustainable and Ethical Supply Chains • SMX • Oct 3, 2024 7:00 AM
Transforming Alzheimer's Treatment: Innovative Combinations to Boost Cognition • PFE • Oct 2, 2024 9:00 AM