The Justice Department will press its argument Thursday that Google sought to strike agreements with mobile carriers to win powerful default positions on smartphones to dominate search in an antitrust trial that could change the future of the internet.
Fintel reports that on September 14, 2023, Keybanc reiterated coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Analyst Price Forecast Suggests 17.50% Upside
The headlines certainly sound daunting. The iPhone is Apple's ((NASDAQ: AAPL) single biggest source of revenue, and China is the company's single biggest market -- well, at least based on population. That's why The Wall Street Journal's recent report that Beijing is moving to bar
Shares of 3M Company MMM slumped 5.7% and became the biggest drag on the Dow Jones index, after the company warned of a slow growth environment in 2024 and gave a bleak forecast for its consumer and electronics segments for the re
SoftBank's chip designer Arm Holdings is set to debut on the Nasdaq on Thursday, in what is expected to be the biggest test for the U.S. IPO market after a listing drought that lasted for nearly 16 months.
Wall Street futures rose on Thursday over expectations the Federal Reserve could pause interest rate hikes in September, while investors awaited Arm Holdings' stock market debut after its IPO turned out to be the biggest since 2021.
SoftBank's chip designer Arm Holdings is set to debut on the Nasdaq on Thursday, in what is expected to be the biggest test for the U.S. IPO market after a drought that lasted for nearly 16 months.
Berkshire Hathaway, the conglomerate headed by famed investor Warren Buffett, has a huge public equities portfolio currently valued at more than $350 billion. Investors analyze this list of companies to find worthwhile investment opportunities, which seems like a good idea given
Designed to provide broad exposure to the Style Box - Large Cap Blend category of the market, the Franklin U.S. Large Cap Multifactor Index ETF (FLQL) is a smart beta exchange traded fund launched on 04/26/2017.
If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the ALPS (OUSA), a passively managed exchange traded fund launched on 07/14/2015.
Designed to provide broad exposure to the Technology ETFs category of the market, the First Trust NASDAQ-100-Technology Sector ETF (QTEC) is a smart beta exchange traded fund launched on 04/19/2006.
Rising optimism about a pause in interest rate hikes in September lifted U.S. index futures on Thursday, while investors readied for Arm Holdings Plc's stock market debut following the biggest U.S. IPO since 2021.
I don't think many investors out there question that Apple (NASDAQ: AAPL) is one of the best companies in the world. Its incredible track record of innovation has resulted in tremendous financial success, leading to a current market cap of $2.8 trillion.
For Immediate ReleaseChicago, IL – September 14, 2023 – Zacks.com announces the list of stocks and ETFs featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks
Belgium said on Thursday it would review the potential health risks linked to Apple's iPhone 12, becoming the latest European country to react after France ordered a halt to sales citing breaches of radiation exposure limits.
Belgium's junior minister for the digital economy said he would ask the telecoms regulator to analyse potential health risks linked to Apple's iPhone 12 after France ordered a halt to sales citing breaches of radiation exposure limits.
Warren Buffett's Berkshire Hathaway said on Wednesday it has sold about 5.5 million shares of HP, undoing part of what has been a large, unsuccessful investment in the maker of personal computers and printers.
Apple (
NASDAQ:AAPL
) stock is currently out of favor. Undoubtedly, the latest
"Wonderlust" event on September 14 failed to impress investors, as new Apple Watches (Series 9 and the Ultra 2) and the iPhone 15, along with its Pro and Pro Max models, were unveiled. The stock ultimately ended the day down 1.7% yesterday. Shares have declined over 10% from their highs, also driven by persistent concerns about the Chinese government's iPhone ban for state officials and employees. Still, I think dip buyers are getting a lovely gift.
Not only are Chinese iPhone ban concerns overblown, in my opinion, but there were many things to like from the "Wonderlust" event that may have flown under the radar of most tuning in. All things considered, I remain incredibly bullish on AAPL stock, as it's now the second-cheapest FAANG stock — behind Alphabet (
NASDAQ:GOOGL
) — from a trailing price-to-earnings (P/E) perspective.
After its recent tumble, Apple stock now has a 29.2 times trailing P/E multiple. For Apple's standards, that's still an elevated multiple. However, notable bullish analysts like Wedbush's
Daniel Ives are looking beyond the recent slate of China headwinds to catalysts that could lift the share price over the coming year.
Chinese iPhone Ban Concerns Overblown, Perhaps Beyond Proportion
Apple stock crumbled more than 6% in just two days following news of
Chinese iPhone bans. I believe that's an exaggerated decline, given that the ban is limited to officials and employees of the Chinese government. Still, investors certainly do love to catastrophize when it comes to Apple.
Though the ban could mark the first step of a broader ban, I don't think such a scenario is at all likely because of the key manufacturing role China plays with the iPhone. Indeed, more widespread bans on the device may be akin to cutting one's nose off to spite the face.
Daniel Ives recently went on
CNBC, noting that the China ban would affect 500,000 devices at worst. Compared to the more than 225 million global shipments made last year, 500,000 is a drop in the bucket and one that shouldn't have paved the way for a two-day plunge of 6%. Morgan Stanley (
NYSE:MS
) seems to be in the same camp as Ives, who believes the China concerns are overblown.
Undoubtedly, Apple's top rival in China, Huawei, has a bold, new smartphone that could give the iPhone a run for its money. Indeed, the Chinese government wants people to use the new Huawei device. However, though the new Huawei may be packed with impressive new features, the iPhone still seems well ahead of the game. Had the latest Huawei phone really been that impressive, the Chinese government wouldn't have had to ban iPhones in the workplace for specific workers.
In short, the ban isn't as big a deal for Apple stock. The biggest losers from the prohibition may be the Chinese government workers who are being forced out of the Apple ecosystem. It's not easy to switch from an iPhone to another device. In fact, it's quite a hassle to move to a new ecosystem that's not nearly as nice as Apple's walled garden.
Some Overlooked Developments from Apple's "Underwhelming" Wonderlust Event
There wasn't too much that shocked and awed in the recent event. The latest iPhone didn't really see a breakthrough new feature that will cause us all to upgrade. Still, there were underlooked developments that could help Apple stock gain ground over the long run.
First, some major video game titles were announced to be coming to the iPhone, and they look great on the A17 Pro — Apple's newest chip. This lineup includes two additions from the
Resident Evil series, as well as
Death Stranding and
Assassin's Creed Mirage. These high-budget, console-quality games have the potential to transform the iPhone into a formidable gaming device boasting advanced graphical features, such as ray tracing.
The graphical upgrade was remarkable, and if more console-quality games are in the pipeline, Apple may be making a sneak attack on the gaming world!
Second, the latest iPhone 15 Pro will allow users to capture "spatial videos" that can be enjoyed on the company's coming headset, Apple Vision Pro. The headset hasn't even launched yet, but it already looks like it'll integrate well alongside other Apple devices, including the iPhone.
Is AAPL Stock a Buy, According to Analysts?
On TipRanks, AAPL stock comes in as a Moderate Buy. Out of 30 analyst ratings, there are 22 Buys and eight Holds. The
average Apple stock price target is $207.10, implying upside potential of 18.9%. Analyst price targets range from a low of $167.00 per share to a high of $240.00 per share.
The Bottom Line on Apple Stock
All told, the China ban worries and lackluster keynote reaction haven't caused me to give up on the stock. If anything, the September stumble may be a gift for long-term investors.
Disclosure
Fintel reports that on September 13, 2023, Wedbush maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Analyst Price Forecast Suggests 16.11% Upside
Fintel reports that on September 13, 2023, B of A Securities maintained coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Analyst Price Forecast Suggests 16.11% Upside