AAPL) ownership of shares rather than an impending 4-for-1 share split opposes Bank of America Merrill technology analyst Lynch Wamsi Mohan. “Data-reactid =” 16 “> There are far more exciting things about Apple stock ownership (AAPL) than about a 4-for-1 split, says Bank of America Merrill technology analyst Lynch Wamsi Mohan.
release of fiscal profits for the third quarter. “data-reactid =” 17 “> To be precise, 10 exciting things in the eyes of Mohan, who provided a tidy list on Friday after the release of Apple’s fiscal profits in the third quarter.
“(1) The growth in product revenues despite the closure of COVID-19-related stores and home stay orders during the fiscal third quarter confirms our confidence in the installed base stickiness, (2) the benefit of incentives shows continued price elasticity of demand for iPhone, (3) new iPhone slowdown creates a weakness in September, but compared to the quarter in December, (4) management expects the strong performance of non-iPhone products to become a fiscal fourth quarter, (5) installed bases of iPad and Mac attract new users and growth continues to exceed expectations (6) Services grew slower than expected, but margins tend to rise (7) Apple saw new earnings records for all time in the App Store, Apple Music, Video and Cloud services. (8) return on capital is strong (returned $ 21 billion to shareholders in the first quarter of the calendar with $ 15.9 billion repurchase, $ 3.7 billion in dividends) (9) Apple announced a 4-for-1 share split, (10) The balance remains stable with net cash of $ 81 billion and strong free cash flow generation, ”Mohan wrote.
The analyst repeated its rating for the purchase of Apple shares and moved its price to $ 420 from $ 410.
the first company with a $ 2 million market capMohan is not alone in his optimism for profits after Apple – most analysts came out on Friday with revised price targets and forecasts for year-round profit. Apple’s shares rise 7% to record highs On Friday, the technology giant is closer to being the first company to market $ 2 trillion in restrictions. Mohan is not alone in his optimism for profit after Apple – most analysts came out on Friday with revised price targets and forecasts for year-round profit.
The first Yahoo Finance trade. “data-reactid =” 36 “>” For me, it was just a big blow to the quarter, “Wedbush Technical Analyst Dan Ives told Yahoo Finance’s First Trading.
Apple reported fiscal revenue in the third quarter at about 54 cents ahead of consensus forecasts, despite the global recession caused by the COVID-19 pandemic. Total sales of $ 59.7 billion broke forecasts for $ 52.3 billion. Apple has seen growth in all its product segments and geographies. Apple CEO Tim Cook credits the power of the iPhone as the main engine for the big top and bottom lines.
“It was better than we thought it was, because as we pointed out in the prepared notes, May and June were much better,” Cook told analysts at a conference call on the iPhone’s presentation during the quarter.
Brian Susieis a great editor and co-hostThe first tradein Yahoo Finance. Follow Sozzi on Twitter@BrianSozziand onLinkedIn,,“data-reactid =” 40 “>Brian Susie is a great editor and co-host The first trade in Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn,,