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AAPL

Apple

$202.62

-3.02 (-1.47%)

07:24
07/22/19
07/22
07:24
07/22/19
07:24

Apple Q3 results will likely matter more than usual, says Bernstein

Bernstein analyst A.M. Sacconaghi, Jr. notes that historically, Apple's Q3 results have meant relatively little to investors, whose focus by this time had typically shifted to next year's iPhone cycle. Following Apple's volatile 2019, however, the analyst would argue that Q3 results will likely matter more than usual, as they could shed further light on the iPhone's health in China, price elasticity of iPhone sales, and/or any contraction or further elongation of iPhone replacement cycles. For Q3, he expects Apple to report in-line revenues and EPS, and is slightly below the Street on Services revenues.

  • 30

    Jul

  • 03

    Aug

AAPL Apple
$202.62

-3.02 (-1.47%)

07/18/19
DBAB
07/18/19
NO CHANGE
Target $205
DBAB
Hold
Data show App sales likely a drag on Apple Services growth, says Deutsche Bank
Sensor Tower yesterday released its estimate of total App Store revenue for Q2 at up 18% year-over-year, Deutsche Bank analyst Jeriel Ong tells investors in a research note. With this data in hand, the analyst estimates that Apple's portion of this App Store revenues is likely 25%-30% of gross revenues, thus ~$3.2B-$3.9B of his $11.6B June quarter Services revenue estimate. Sensor Tower data indicates that App Store growth, "while solid at its size," will likely continue to be a drag on Apple's overall Services revenue growth, contends Ong. He believes Apple's growth will increasingly have to come elsewhere in the second half of 2019 if the company is to maintain a greater than 20% year-over-year growth rate in 2019. The analyst keeps a Hold rating on Apple with a $205 price target.
07/18/19
RAJA
07/18/19
UPGRADE
RAJA
Outperform
Raymond James upgrades Apple, Skyworks on 5G iPhone expectations
As previously reported, Raymond James analyst Christopher Caso upgraded Apple (AAPL) to Outperform from Market Perform citing greater confidence in next year's 5G iPhone cycle. Since Apple has settled with Qualcomm (QCOM) and decided to use its modem in the 2020 iPhone, his checks have suggested that Apple has decided to offer 5G across the iPhone product line, including in its lower priced "R" models, said Caso, who thinks "a reasonably priced 5G phone will be a very compelling" reason to upgrade. Among chip suppliers, he believes Skyworks (SWKS) stands to gain the biggest incremental benefit from a stronger iPhone cycle and Caso also upgraded Skyworks shares to Outperform from Market Perform. He set a $250 price target on Apple shares and a $90 price target on Skyworks shares.
07/18/19
07/18/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Apple (AAPL) and Skyworks (SWKS) upgraded to Outperform from Market Perform at Raymond James with analyst Christopher Caso citing greater confidence in next year's 5G iPhone cycle. 2. PriceSmart (PSMT) upgraded to Outperform from Sector Perform at Scotiabank. 3. BNY Mellon (BK) upgraded to Market Perform from Underperform at Keefe Bruyette with analyst Brian Kleinhanzl saying after the company's Q2 results, he feels its negative catalysts are slowly reversing. 4. U.S. Bancorp (USB) upgraded to Neutral from Underperform at BofA/Merrill with analyst Erika Najarian saying she believes earnings headwinds have reached an inflection point and net interest margin is more defensible versus peers. 5. Power Integrations (POWI) upgraded to Buy from Hold at Stifel with analyst Tore Svanberg citing the company's near-term momentum from the USB-PD adoption cycle as well as its longer-term opportunity in the high-power industry and auto. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/19
NOMU
07/19/19
NO CHANGE
Target $180
NOMU
Neutral
Apple price target raised to $180 from $175 at Nomura Instinet
Nomura Instinet analyst Jeffrey Kvaal raised his price target for Apple to $180 from $175 to reflect higher market multiples while keeping a Neutral rating on the shares. The analyst's fiscal Q3 work indicates a slow finish to the iPhone Xs cycle and "steady" App Store growth. Kvaal has low expectations for the impending iPhone cycle and does not expect Apple's new services to add materially to earnings. However, the company's ecosystem and buyback program "remain strong," the analyst writes in a research note titled "Bereft of Earnings Accelerants."

TODAY'S FREE FLY STORIES

SKT

Tanger Factory

$15.90

0.13 (0.82%)

14:35
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14:35
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14:35
Options
Tanger Factory put volume heavy and directionally bearish »

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14:35
09/20/19
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14:35
General news
Action Economics Survey results: »

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USAT

USA Technologies

$7.43

-0.22 (-2.88%)

14:31
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USAT

USA Technologies

$7.43

-0.22 (-2.88%)

14:28
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USA Technologies says unlikely to meet Nasdaq deadline for filing compliance »

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USAT

USA Technologies

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-0.22 (-2.88%)

14:26
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FISV

Fiserv

$104.82

-0.03 (-0.03%)

14:25
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Options
Fiserv call volume above normal and directionally bullish »

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TD

Toronto-Dominion

$57.97

0.4 (0.69%)

, DB

Deutsche Bank

$8.02

-0.055 (-0.68%)

14:24
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TD accepted Epstein accounts after Deutsche cut ties, Bloomberg says »

Canadian lender…

TD

Toronto-Dominion

$57.97

0.4 (0.69%)

DB

Deutsche Bank

$8.02

-0.055 (-0.68%)

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  • 27

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IVV

iShares Core S&P 500

$301.93

-0.845 (-0.28%)

, SPY

SPDR S&P 500 ETF Trust

$298.77

-0.906381 (-0.30%)

14:22
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14:22
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Technical Analysis
On The Fly: Weekly technical notes for S&P 500 »

ETF fund flows to the top…

IVV

iShares Core S&P 500

$301.93

-0.845 (-0.28%)

SPY

SPDR S&P 500 ETF Trust

$298.77

-0.906381 (-0.30%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$87.41

0.05 (0.06%)

IEF

iShares 7-10 Year Treasury Bond ETF

$111.69

0.335 (0.30%)

ITE

SPDR Bloomberg Barclays Intermediate Term Treasury ETF

$62.19

0.065 (0.10%)

SPTL

SPDR Portfolio Long Term Treasury ETF

$40.45

0.12 (0.30%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
09/20/19
09/20
14:17
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14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
09/20/19
09/20
14:16
09/20/19
14:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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PDD

Pinduoduo

$33.65

-0.98 (-2.83%)

14:15
09/20/19
09/20
14:15
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Options
Pinduoduo put volume heavy and directionally bearish »

Bearish flow noted in…

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FIT

Fitbit

$4.00

0.3347 (9.13%)

14:11
09/20/19
09/20
14:11
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14:11
Periodicals
Fitbit deciding whether to explore sale, Reuters says »

Fitbit (FIT) has held…

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FIT

Fitbit

$3.69

0.025 (0.68%)

14:07
09/20/19
09/20
14:07
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Fitbit rises after report of hiring bank to consider sale »

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FIT

Fitbit

$3.73

0.06 (1.64%)

14:03
09/20/19
09/20
14:03
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14:03
Periodicals
Breaking Periodicals news story on Fitbit »

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W

Wayfair

$122.80

-5.865 (-4.56%)

13:55
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13:55
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Options
Wayfair put volume heavy and directionally bearish »

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DELL

Dell Technologies

$52.26

-0.8 (-1.51%)

13:53
09/20/19
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13:53
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Conference/Events
Dell Technologies to hold a business news update meeting »

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  • 26

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FTR

Frontier Communications

$1.00

-0.0006 (-0.06%)

13:43
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Periodicals
Frontier Communications prepares for debt restructuring talks, WSJ reports »

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13:40
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General news
U.S. equity markets »

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BTU

Peabody Energy

$15.47

-1.56 (-9.16%)

, ARCH

Arch Coal

$71.00

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ARCH

Arch Coal

$71.00

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  • 23

    Sep

SPY

SPDR S&P 500 ETF Trust

$298.09

-1.586381 (-0.53%)

, SPX

S&P 500

$0.00

(0.00%)

13:34
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Periodicals
Chinese delgation cancels farm trip to Montana, Reuters reports »

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SPY

SPDR S&P 500 ETF Trust

$298.09

-1.586381 (-0.53%)

SPX

S&P 500

$0.00

(0.00%)

DJX

Dow Jones Industrial Average

$0.00

(0.00%)

NDX

Nasdaq 100 Index

$0.00

(0.00%)

03/08/13
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RACE

Ferrari

$151.80

-1.95 (-1.27%)

13:30
09/20/19
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13:30
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Trader trims risk by legging out of iron condor in Ferrari »

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MGM

MGM Resorts

$29.05

-0.01 (-0.03%)

13:25
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13:25
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Options
MGM Resorts call volume above normal and directionally bullish »

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SPY

SPDR S&P 500 ETF Trust

$300.00

0.323619 (0.11%)

, SPX

S&P 500

$0.00

(0.00%)

13:22
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SPY

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$300.00

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WMT

Walmart

$117.62

0.58 (0.50%)

, MO

Altria Group

$41.19

1.08 (2.69%)

13:21
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Walmart to stop sale of e-cigarettes in stores, Yahoo Finance reports »

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WMT

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0.58 (0.50%)

MO

Altria Group

$41.19

1.08 (2.69%)

BTI

British American Tobacco

$36.57

0.07 (0.19%)

IMBBY

Imperial Brands

$0.00

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PM

Philip Morris

$72.77

1.07 (1.49%)

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MGM

MGM Resorts

$29.04

-0.02 (-0.07%)

13:21
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Breaking Periodicals news story on MGM Resorts »

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