Apple Inc. NASDAQ: AAPL telefony iPhone, laptopy Mac, odtwarzacze iPod, tablety iPad, Apple Watch

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Skrócona analiza Apple Inc (AAPL)

https://www.youtube.com/watch?v=nkvaWPck6sA

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(Reuters) - Apple Inc (NASDAQ:AAPL) is expected to report its first decline in quarterly revenue in nearly four years after strict COVID-19 curbs in China rapped the economy and related protests upended iPhone production at its biggest supplier Foxconn.

Investors will look for details on how Chief Executive Tim Cook is trying to bolster demand in a weak economy that has prompted mass layoffs in the tech industry, a move Apple has so far avoided thanks to frugal hiring during the pandemic.

"With supply chain challenges largely normalized, we now believe Apple is entering a period of slower demand due to macro factors," said Cowen analyst Krish Sankar, adding that he expects 2% fewer iPhone units to be sold in 2023.

The world's biggest public company is expected to report on Thursday that iPhone sales fell about 5% for the all-important holiday quarter, according to Refinitiv. The last time iPhone sales slipped was in the August-October period in 2020, months into the COVID-19 pandemic.

GRAPHIC: Apple's iPhone revenue set to fall for the first time since the pandemic Apple's iPhone revenue set to fall for the first time since the pandemic (https://www.reuters.com/graphics/APPLE- ... /chart.png)

UBS analysts expect iPhone sales to have held up better in the United States than China and Europe, as the economies reeled from the impact of COVID-19 and the Russia-Ukraine war.

Some demand for the iPhone will likely be pushed into the current quarter after supply restrictions in the first quarter and some demand lost due to lack of product availability in the holiday period, BofA analyst Wamsi Mohan said.

The services business, a key growth engine for the company and home to Apple's music and video streaming services, is set to post its lowest revenue growth for the holiday quarter - another fallout of consumers limiting spending.

GRAPHIC: Apple's revenue is set to fall for the first time in nearly 4 years Apple's revenue is set to fall for the first time in nearly 4 years 9https://www.reuters.com/graphics/APPLE-RESULTS/ ... /chart.png)

THE CONTEXT

The disruption at the world's biggest iPhone plant in Zhengzhou, China triggered a rare warning from Apple in November and limited stocks of its higher-end iPhone 14 models during what is typically its biggest sales quarter, powered by product launches and the holidays.

Greater China, including Hong Kong, is key to Apple's fortunes, contributing roughly a fifth to annual revenue. The Cupertino, California-based tech behemoth had in 2019 pared its total sales forecast due to an economic slowdown in the country following the Sino-U.S. trade war.

Analysts, however, expect a much-faster recovery this time as factories have restarted in China and Apple diversifies its production footprint with plants in India.

"Commentary from luxury goods companies indicates China is rebounding quickly, which implies Mar-qtr Chinese iPhone sales should be better than expected," Evercore ISI analysts said in a note.

FUNDAMENTALS

** Revenue estimated to have fallen 2% in the last three months of 2022, Apple's first fiscal quarter.

** IPhone sales likely fell for first time since 2020, while services business rose 6%.

** Analysts expect net income to have dropped 10.4%; earnings per share of $1.94

** Apple's shares fell about 27% in 2022 and have gained nearly 10% in January

WALL STREET SENTIMENT

** Since October, analysts have lowered some forecasts on Apple for the first quarter

Metric Estimate in Oct. Latest estimate

Earnings per $2.13 $1.94

share

Revenue $127.88 billion $121.20 billion

Gross Margin 42.80% 42.95%

iPhone revenue $73.07 billion $68.29 billion

Mac revenue $10.28 billion $9.63 billion

Services $21.95 billion $20.67 billion

revenue

Free cash flow $41.50 billion $32.7 billion

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Apple Q1 results miss estimates as iPhone revenue drops

Investing.com - Apple (NASDAQ:AAPL) stock fell in premarket trading on Friday, after its first quarterly sales drop in over three years forced investors to confront the risk of a permanent slowdown in growth.

The iPhone maker had a tough start to its fiscal year, which includes the key holiday season. Revenue from its flagship iPhones fell 8% and there were bigger declines in wearables and PCs, all hurt by the increasingly rapid deflation in demand for gadgets as the pandemic boom ended.

On top of that, the company had faced serious supply chain problems in the quarter, as workers at contract manufacturer Foxconn's (TW:2317) plant in Zhengzhou revolted against the working conditions imposed at the peak of China's COVID-19 wave.

Those problems were partially offset by continued growth in its services unit, which includes Apple TV and the App Store, while iPad sales rebounded from a weak comparative base.

Overall revenue fell 5% to $117.2 billion, although that figure was made to look worse by the dollar's strength. In constant currency terms, they were flat from last year. Adjusted earnings per share fell more steeply, by 11%, to $1.88, missing forecasts for $1.94.

To some, the numbers bore out concerns that the stock, which has multiplied fourfold since 2019, is due to a significant re-rating, as higher interest rates, squeezed consumer incomes, and a more mature business profile all point to slower rates of growth in the future.

However, analysts were quick to bat away such concerns, arguing that the quarter was abnormally weak due to the production issues in China, and that the outlook for continued growth through services and wearables is still bright. They also point to its strong balance sheet and its record of abundant cash flow and shareholder payouts.

Analysts at Citi expect Apple's revenue to fall 1.5% in the year through September, due largely to problems in the last quarter, but expect it to resume growing in the following year, by over 6%. They noted that a worldwide installed base of over 1.2 billion devices can't help but generate substantial replacement and upgrade demand, as well as generate more service revenue going forward. They rate the stock 'buy' with a target price of $175, 16% above Thursday's close.

Evercore analysts likewise stressed the stability and solid downside protection of Apple's business, saying the report "continues to validate not just the diversity of AAPL’s revenue stream but also highlights the ‘consumer staple’ nature of iPhones," in contrast to perceptions of the iPhone as a discretionary spending item. They also rate the stock outperform, with a $190 target.

https://www.investing.com/news/stock-ma ... ps-2994559

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Morgan Stanley analysts said in a research note Friday that Apple (NASDAQ:AAPL) is one of the companies they believe could benefit from the AI shift, but the "P&L impact is still in its early days."

They believe Apple is "well-positioned to benefit from the rise of AI workloads being pushed to the edge due to leadership with its A-series and M-series chips."

"Apple has used its in-house silicon development to optimize the integration of hardware, software, and services, rolling out more powerful and efficient chips each year," wrote the analysts.

They explained that back in 2017, Apple released the first generation of its Apple Neural Engine as part of the iPhone X's A11 chipset, which helped to power on-device ML features like FaceID and Memoji.

They added that since then, "Apple has expanded this to the iPad/Mac and taken other steps forward, including optimizing Stable Diffusion (text-to-image model) to run on the Apple Neural Engine, which allows users to generate content on-device more quickly."

As a result, Morgan Stanley believes the prior investments "could position Apple uniquely as a hardware leader as AI interest increases and consumers run more AI-intensive applications on smartphones."

https://www.investing.com/news/stock-ma ... SI-3014393

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Apple Inc (NASDAQ:AAPL) rose 1.9% after Morgan Stanley (NYSE:MS) said the stock could rally more than 20% this year on potential hardware subscription.

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Apple (NASDAQ:AAPL) stock rose 1.6% after Goldman Sachs initiated coverage of the iPhone maker with a 'buy' rating, saying it can rally more than 30% due to the strength of its services business.

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Apple shareholders reject proposals from conservative groups

(Reuters) -Apple Inc shareholders on Friday rejected two proposals put forth by conservative U.S. groups focused on scrutinizing the iPhone maker's inclusion and diversity policies and its ties to China.

Shareholders meanwhile approved the company's executive pay packages, with 89% of votes cast in favor. In January, Apple (NASDAQ:AAPL) reduced Chief Executive Officer Tim Cook's pay and made it more dependent on stock performance.

The unsuccessful diversity proposal, brought by the National Center for Public Policy Research, would have required Apple to consult right-leaning public interest groups in examining its diversity, equity and inclusion (DEI) policies.

"DEI is overtly bigoted against men, white people and straight people by falsely assuming that they are inherently — and irredeemably — racist and sexist oppressors," Ethan Peck, who presented the proposal, said in a statement.

Apple argued that the proposal mischaracterized its policies and said such an examination would be redundant because it is already conducting a civil rights audit. The proposal lost with 98.5% of shareholders who cast votes opposing it.

The National Legal and Policy Center, another conservative group, asked Apple to scrutinize its dependence on, and vulnerability to China. Apple recommended against the measure, saying that the iPhone maker already discloses a list of suppliers in China and information about human rights in an annual report. More than 95% of shareholders who cast votes opposed the measure.

While both those measures failed, shareholders re-elected Apple's board of directors and approved its use of Ernst & Young as its independent audit firm.

During a question-and-answer session with shareholders, Cook said that Apple continued to plan for dividend increases. On how Apple plans to respond to changing economic conditions, Cook noted that the company's operating expenses came in below its forecast during its most recently-reported quarter.

"But most important, and I can't stress this enough, we're continuing to invest in innovation, whatever the near-term economic picture looks like," Cook said during the meeting.

https://www.investing.com/news/stock-ma ... ps-3027844

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KeyBanc remains bullish on Apple, stock offers 'one of the best opportunities'

KeyBanc analysts reiterated an Overweight rating on Apple (NASDAQ:AAPL) stock after analyzing the latest spending data.

The analysts also reaffirmed the $177 per share price target and estimate as Apple remains "one of the best opportunities within our coverage given AAPL's resilient product/ subscriber base, ability to grow key markets such as China and India, solid margin expansion potential and AAPL's shareholder friendly capital allocation," they wrote in a client note.

KeyBanc's data shows Indexed Spending fell 11% month-over-month in January, which is better compared to the prior 3-year average of -13%.

"This is a continuation of better seasonal growth that we saw in January. Our data appears to be normalizing to historical seasonality as February is typically one of the slowest months of the year. Looking forward, we would expect the data to show m/m growth in March," the analysts added.

Over the last 3 years, Apple's F2Q Hardware is -31% quarter-over-quarter over the last 3 years. This compares to Street's current consensus of -25%.

"We are seeing in our data consecutive months of better than historical seasonal growth, which would confirm our estimates. We believe the quarter more broadly is shaping up in line with Apple's guidance: iPhone revenue should improve y/y from F1Q23, Mac/iPad should be down double-digits, and services should grow, but likely will decelerate, in our view. Additionally, we continue to be encouraged by third-party data points that suggest AAPL is gaining share in China," they concluded.

https://www.investing.com/news/stock-ma ... SI-3033545

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Łączna waga Apple i Microsoftu w indeksie S&P 500 jest najwyższa od co najmniej 1990 r., jak wynika z nowego raportu Strategas Research.

Dwaj giganci technologiczni stanowią obecnie ponad 13% szerszego indeksu rynkowego, strateg funduszu ETF Strategas, Todd Sohn, napisał we wtorek w wiadomości skierowanej do klientów, jak donosi CNBC. Ceny akcji tych spółek prześcignęły również S&P 500 w tym roku, przy czym Apple wzrósł o 26%, a Microsoft o prawie 14%, podczas gdy S&P 500 wzrósł tylko o 3%.

"Ostatnie wyniki spółek z branży technologicznej spowodowały, że łączna waga S&P 500 z AAPL (7,1%) + MSFT (6,1%) wzrosła do nowych szczytów z okresu ponad 30 lat. Ryzyko koncentracji 5-10 głównych składników było palącym tematem w czasie zwyżki po COVID, ale wydaje się, że obecnie jest ona ograniczona do dwóch głównych spółek" - powiedział Sohn.

Ta przewaga pojawia się, ponieważ inwestorzy zaczynają dystansować się od dominacji FAANG - Facebook/ Meta Platforms (META 0,85%), Amazon (AMZN -0,59%), Apple, Netflix (NFLX 2,50%) i Google/Alphabet (GOOGL -0,15%) - nad całą branżą technologiczną w ostatniej dekadzie. Grupa ta czasami dodaje również do swoich szeregów takie spółki, jak Nvidia (NVDA -1,52%), Microsoft i Tesla (TSLA -0,94%).

"To jest po prostu przełomowe" - dodał Sohn. "Istnieje po prostu większy komfort w sposobie postrzegania Apple i Microsoftu, w przeciwieństwie do wybierania i kupowania akcji jakiejkolwiek firmy technologicznej".

Sam sektor technologiczny znalazł się w ostatnich miesiącach pod presją, a obfitujący w spółki technologiczne fundusz Invesco QQQ ETF (QQQ 0,37%) spadł o ponad 33% w 2022 r. i tylko nieznacznie odzyskał 15% wzrost w ciągu roku - co nadal jest lepszym wynikiem od szerszego S&P 500.

To ożywienie można częściowo przypisać największym udziałom Microsoftu na poziomie 12,32% i Apple na poziomie 12,31%; to dwa razy więcej niż trzeci i czwarty najwyższy składnik - Amazon i Nvidia ważone odpowiednio na poziomie 6,26% i 5,10%.

Fundusz Technology Select Sector SPDR Fund (XLF -0,06%), który śledzi wyniki segmentu technologicznego S&P 500, jak na razie w tym roku osiąga 16% przewagę nad szerszym indeksem rynkowym dzięki dużym udziałom Microsoftu i Apple. Łączna waga gigantów technologicznych stanowi prawie połowę udziałów w indeksie.

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LONDON (Reuters) -Apple Inc won its appeal against the decision by Britain's antitrust regulator to launch an investigation into its mobile browser and cloud gaming services, the Competition Appeal Tribunal (CAT) ruled on Friday.

Regulator the Competition and Market Authority (CMA) opened a full investigation in November into the dominance of Apple (NASDAQ:AAPL) and Alphabet (NASDAQ:GOOGL) Inc's Google in mobile browsers, and the possibility of the iPhone maker restricting the cloud gaming market through its app store.

Apple argued that the CMA had "no power" to launch such a probe because it did so too late.

Its lawyer Timothy Otty earlier this month said that the market investigation should have been opened last June at the same time the CMA published a report on mobile ecosystems, which found the two tech giants had an "effective duopoly."

The CAT endorsed Apple's argument, saying that in declining to take action at that time only in the expectation of receiving further powers it might well be said that the CMA "erred in law".

The CMA said it was disappointed with the ruling.

"Today's judgment has found there are material constraints on the CMA's general ability to refer markets for in-depth investigations," it said in a statement.

"This risks substantially undermining the CMA's ability to efficiently and effectively investigate and intervene in markets where competition is not working well.

"Given the importance of today's judgment," it added, "we will be considering our options including seeking permission to appeal."

Apple in a statement issued after the ruling said it believed in "vibrant and competitive markets where innovation can flourish."

"We are pleased with the Competition Appeal Tribunal's decision and will continue working to deliver support for developers and a safe and secure experience for users," the company said.

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Warren Buffett Has 44% of His Portfolio in This One Stock (Consider Buying It)

Remember the saying, “Don’t put all of your eggs in one basket”? The old adage summarizes the importance of diversification in a nutshell (or maybe in an eggshell). Diversification doesn’t eliminate your risk but can help lower the odds of significant losses.

At first glance, you might think that Warren Buffett is a proponent of diversification. His Berkshire Hathaway (BRK.A) (BRK.B) holdings include nearly 50 stocks across a variety of industries. But while the legendary investor doesn’t have all of his eggs in one basket, a disproportionate number of them are. Why has Buffett invested 44% of his portfolio in just one stock?

The apple of Buffett’s eye
That stock in which so much of Berkshire’s money is invested is Apple (AAPL). Berkshire’s position in the tech giant currently totals close to $150 billion.

Buffett first initiated a position in Apple in the first quarter of 2016. And he did so at the time primarily because of the influence of Berkshire’s two investment managers, Todd Combs and Ted Weschler.

While it took Buffett a long time to pull the trigger on Apple, he clearly likes the company. In a 2020 interview with CNBC, he stated:

I don’t think of Apple as a stock. I think of it as our third business. It’s probably the best business I know in the world. And that is a bigger commitment than we have in any business except insurance and the railroad.

There are plenty of reasons why Buffett views Apple with such high regard. He has always loved strong brands and prefers to invest in companies with solid moats. The Oracle of Omaha also especially prioritizes consistent, long-term earnings growth. Apple delivers on all counts.

A big bet that’s paid off in a big way
You might still scratch your head that Buffett has put so much of Berkshire’s money into one stock. However, it’s important to recall something he said years ago: “Diversification is protection against ignorance. It makes little sense if you know what you are doing.”

Buffett doesn’t have a problem investing heavily in a stock when he has a high degree of confidence in its underlying business. That confidence comes from a careful and detailed evaluation of the company’s financials, management team, growth prospects, and competitive landscape.

Clearly, Buffett’s big bet on Apple has paid off in a big way. An initial investment in Apple when Berkshire first bought the stock has increased by more than 6x.

The Oracle of Omaha seems to believe Apple has more room to run. Berkshire bought only four stocks in the fourth quarter of 2022. Apple was one of them.

Don’t try this at home
I agree with Buffett that Apple is a wonderful business and a great stock. It’s the largest stock in my portfolio, as well (although it’s not anywhere close to 44% of my total holdings, and my amount invested is a wee bit lower than his investment).

There are several reasons why I think that buying Apple stock now is a smart move. The company has major opportunities in China and India. Its services business should be an especially significant growth driver for years to come. And Apple also has tremendous potential with new products, including its forthcoming augmented-reality headset and a rumored folding iPhone.

However, I don’t think that most investors should put nearly as big a percentage of their money into Apple or any other single stock as Buffett has. Few people have the experience and expertise he does in evaluating businesses. And few have the financial cushion that he has if a decision goes awry.

Consider buying Apple, but also build a well-diversified portfolio. Your eggs and baskets are a lot different than Buffett’s.

— Keith Speights

https://dailytradealert.com/2023/04/10/ ... buying-it/

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Latest Release
May 04, 2023

EPS / Forecast
1.52 / 1.43

Revenue / Forecast
94.8B / 92.9B

Investing.com -- Apple reported Thursday fiscal first-quarter results that topped estimates, driven by stronger-than-expected iPhone sales. The tech giant also boosted its dividend and announced a $90 billion share buyback program.

Apple Inc (NASDAQ:AAPL) shares gained 1% in after-hours trade following the report.

Apple announced earnings per share of $1.54 on revenue of $94.8B. Analysts polled by Investing.com anticipated EPS of $1.43 on revenue of $92.9B.

iPhone revenue, which makes up more than half of total revenue, rose to $51.33 billion from $50.57B a year earlier, topping estimates of $48.84 billion.

Revenue from Apple’s service business including Apple TV+ and iCloud, climbed to $20.91 billion from $19.8 billion a year earlier, beating estimates of $20.97 billion.

"We are pleased to report an all-time record in services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,: Apple CEO Tim Cook said in the earnings report.

Wearables, home and accessories generated $8.76B in revenue, down from $8.81B.

The company unveiled a $90B share buyback plan and boosted its quarterly dividend by 4.3% to 24 cents per share, up from 23 cents.

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May 8
So #Apple hiked its dividend by 4.3% to $0.24 quarterly per share. This marks the 11th consecutive year of dividend growth by $AAPL but also is the smallest hike since the dividend was reinstated back in 2012.

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Apple: KeyBanc long-term positive as growth story will 'continue to play out'

KeyBanc Capital Markets analysts reiterated an Overweight rating and $180 per share price target on Apple (NASDAQ:AAPL) in a note Monday, stating that they are cautious in the near term.

The firm maintained its below-consensus total hardware revenue estimates for the tech powerhouse, stating that key first look data (KFLD) "shows Indexed Spending for April was -18% m/m vs. the three-year average of +4% m/m (including +48% m/m rate in 2020, excluding which results were generally in line with historical trends)."

"Our F3Q est. comes out below consensus: we're looking for total hardware revenue growth of -5.3% y/y vs. consensus of -3.7% y/y, vs. F2Q reported of -4.6% y/y and AAPL's total revenue guide for F3Q growth to be consistent with F2Q," they wrote.

"Our ests are below consensus for iPhone/Mac as we worry about U.S. upgrade rates being lower, creating more pressure NT than growth in Int'l, and PC sales remain weak."

Despite the firm's near-term concerns, the analysts said they are long-term positive as they believe the user growth and capital return story will continue to play out. analysts reiterated an Overweight rating and $180 per share price target on Apple (NASDAQ:AAPL) in a note Monday, stating that they are cautious in the near term.

The firm maintained its below-consensus total hardware revenue estimates for the tech powerhouse, stating that key first look data (KFLD) "shows Indexed Spending for April was -18% m/m vs. the three-year average of +4% m/m (including +48% m/m rate in 2020, excluding which results were generally in line with historical trends)."

"Our F3Q est. comes out below consensus: we're looking for total hardware revenue growth of -5.3% y/y vs. consensus of -3.7% y/y, vs. F2Q reported of -4.6% y/y and AAPL's total revenue guide for F3Q growth to be consistent with F2Q," they wrote.

"Our ests are below consensus for iPhone/Mac as we worry about U.S. upgrade rates being lower, creating more pressure NT than growth in Int'l, and PC sales remain weak."

Despite the firm's near-term concerns, the analysts said they are long-term positive as they believe the user growth and capital return story will continue to play out.

keybanca kebancs

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Zbliżająca się premiera interaktywnego zestawu słuchawkowego Apple wywołuje spekulacje na temat jego potencjału do przekształcenia rynku